Do you sometimes talk to your economist friends and they say something that leaves you scratching your head? Maybe you feel like you’ll never understand the words coming out of those econ nerds’ mouths. Don’t worry, we have the solution! Below we have provided some helpful translations, so you too can throw around confusing jargon with ease: Continue reading “Sh*t Economists Say Part 2”
Tag: budget constraints
Sh*t Economists Say Part 1
By: Alex Kanode and Kevin D. Gomez
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“He’s been complaining about not having any money and then he goes and buys a brand new Nissan truck,” my friend asks. “He’s acting irrationally!”
The economist responds, “Well, his stated preferences are obviously different from his revealed preferences. His budget constraint must be higher than we think! He’s definitely acting rationally.”
Confused stare.
