Working on the bilateral investment treaties, I realized one thing, decisions have indirect effects whether we like it or not. Just like in the Philip Morris-Uruguay case, I’m pretty sure that the Uruguay government didn’t anticipate it when a document that they signed in the pass would interfere with their law-making today,
Sir Fabella said in his 141 class that a mature economist is extremely sensitive to indirect effects and unintended effects because they might be more costly than direct benefits. When he said this, I was just agreeing but can’t really relate to it yet. While making our matrix, I suddenly realized the truth of this statement and how important it really is.
So, as we make decisions anywhere, be it in our academics or relationships, let us think about all the effects that our decisions will incur. Remember, it is not only the direct effects that will have an impact, the indirect ones as well.