Since graduations are fast approaching, and our charming, yet formidable First Lady has already stirred some controversy, we should examine what a commencement speech should be: short, to the point, fairly uncontroversial.
In short, common sensical.
In 2007, economist Thomas Sargent delivered such an address to the graduates at Cal Berkeley, not known for being a hotbed of rational common sense, but actually a very rigorous school when you get into the sciences, particularly the hard ones.
At 335 words, it is a shining example of a very high pith-to-word ratio.
Economics is organized common sense. Here is a short list of valuable lessons that our beautiful subject teaches.
1. Many things that are desirable are not feasible.
It gets better from there.
Read it. It will take most of you less than five minutes.