Now that the Valentine’s Day chocolates have been consumed and flowers have withered and died, many of us go back to the same old routines in our relationships. That is, we go to work, be nice to each other (hopefully), and continue to use our comparative advantages at home. We go back to our “steady-state”. … Continue reading Valentine’s Day Is Over: Getting Out Of The Steady State
Smith and Kanye both understand that the markets are the primary method of sharing and appreciating the talents of the scorned entertainer. However, to simplify the market by removing “agreeable and beautiful” virtues, either for the purpose of depriving the market of virtue entirely or for the preservation of public virtue, is a fundamental misapplication of what a Smithian market is supposed to accomplish. Markets are not supposed to provide either orthodoxy or debauchery, but to carefully explore the ways in which a society, comprised of individuals with unique talents with rewards, can become more fully human.
Courtesy of: Wealth 101
Your friendly economists' take on New Year's Resolutions.
Wait a second...but what if we didn't PAY for it? Kenzi and Kathryn talk about free lunch at conferences, Double Tree cookies, and opportunity costs--how we actually pay for "free" things.