Archive for December 2008
You are browsing the archives of 2008 December.
Jingle Bells on a White Christmas
Tomorrow we leave to drive to Atlanta. We considered flying and luckily decided against it as the snow is falling and flights are rumored to be as much as 2 days delayed. Micah has a song for the moment:
Economic Parables Part 4 - Product Value
Let’s modify our last exercise and move from a one time trade, into an ongoing series of trades. (please note I have no idea about birth rates and growth of baby animals, so correct me if you know)
John still raises chickens and he still wishes to eat steak. Likewise Bill still raises cows and wishes [...]
Economic Parables Part 3 - A Saturated Market
John raises chickens. He has 4 chickens, but he wishes to eat steak.
Bill raises cows. He has 3 cows, but wishes to eat chicken.
John offers 2 chickens for 2 cows. Bill refuses as he would have 1 cow left - he needs 2 to reproduce. Bill offers 1 cow for 1 chicken.
Analysis.
In part 2 we [...]
Economic Parables Part 2 - The Most Basic Trade
Our nation is expanded to 2…
The most basic trade
John raises chickens. He has chickens, but he wishes to eat steak.
Bill raises cows. He has cows, but wishes to eat chicken.
John trades 1 chicken to Bill for 1 cow.
This is the most basic economic transaction. Both had a surplus of goods they were willing to trade [...]
Economic Parables Part 1 - A Flat Market
In order to understand economics, it is helpful to think on a small scale. I’m hoping to build simple modelfor all to understand. I will build upon this model and I encourage feedback, why, and what-if questions. I make no claim to having economic authority so this is for me as much as anything else. [...]
Good Government is a Myth Part 2b: Government Employment
This is titled part 2b, as my friend Chris Waner has written parts 1 and 2 on his blog The Free Exchange. Read his article “Government Employment” here. To summarize, Government cannot create wealth, it cannot create new jobs.
one of the great myths about government is that it can employ people for the betterment of the economy [...]
Richard Rose (the Sr)
My wife asked me to do a post about my Grandpa Rose as she never got to meet him… he doesn’t much fit into just one post so we’ll see what happens here.
Life and Legacy
My grandfather was one of 7. Born in a very small Pennsylvania cabin to a Jewish mother and a drunkard [...]
