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☭proletarian☭
Guest
You, the idiot who think I lose something by picking up a rock are attacking an adherent of the Austrian School?
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☭proletarian☭;1962761 said:You, the idiot who think I lose something by picking up a rock are attacking an adherent of the Austrian School?
To lose something I have to have had it. Nice try, thoughThe cost of that rock was a shell, a stick, or a fruit.
If we're going to be nitpicky, you lost a minute of your life, but gained a rock. So that rock cost you one minute of time. A minute you could have spent on something else, like finding a piece of yummy fruit (can you tell I'm hungry).☭proletarian☭;1963139 said:To lose something I have to have had it. Nice try, thoughThe cost of that rock was a shell, a stick, or a fruit.
☭proletarian☭;1963139 said:To lose something I have to have had it. Nice try, thoughThe cost of that rock was a shell, a stick, or a fruit.
Greg Mankiw's Blog: ECONOMICS!!
Everything has a cost. There is no free lunch. There is always a trade-off.
Cost is what you give up to get something. In particular, opportunity cost is cost of the tradeoff.
One More. Rational people make decisions on the basis of the cost of one more unit (of consumption, of investment, of labor hour, etc.).
iNcentives work. People respond to incentives.
Open for trade. Trade can make all parties better off.
Markets Rock! Usually, markets are the best way to allocate scarce resources between producers and consumers.
Intervention in free markets is sometimes needed. (But watch out for the law of unintended effects!)
Concentrate on productivity. A countrys standard of living depends on how productive its economy is.
Sloshing in money leads to higher prices. Inflation is caused by excessive money supply.
!! Caution: In the short run, falling prices may lead to unemployment, and rising employment may lead to inflation.
Words to live by.
Greg Mankiw's Blog: ECONOMICS!!
Everything has a cost. There is no free lunch. There is always a trade-off.
Cost is what you give up to get something. In particular, opportunity cost is cost of the tradeoff.
One More. Rational people make decisions on the basis of the cost of one more unit (of consumption, of investment, of labor hour, etc.).
iNcentives work. People respond to incentives.
Open for trade. Trade can make all parties better off.
Markets Rock! Usually, markets are the best way to allocate scarce resources between producers and consumers.
Intervention in free markets is sometimes needed. (But watch out for the law of unintended effects!)
Concentrate on productivity. A countrys standard of living depends on how productive its economy is.
Sloshing in money leads to higher prices. Inflation is caused by excessive money supply.
!! Caution: In the short run, falling prices may lead to unemployment, and rising employment may lead to inflation.
Words to live by.
We lived by these words for about the last 30 years.
How'd that work out for us?
The big mistake most people make with inflation is forgetting to factor in "Credit" as part of the equation.
We are trying to stretch your understanding around the simple concept of opportunity cost. Obviously three posters cannot do this. Probably nothing could.☭proletarian☭;1964166 said:
You guys are really stretching here
This explains why you likely voted for Obama.
☭proletarian☭;1964292 said:This explains why you likely voted for Obama.
You just get more and more retarded every time you post
We lived by these words for about the last 30 years.
How'd that work out for us?