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.

/scene Continue reading “Sh*t Economists Say Part 1”