ms. fresh fish


Vendredation Day
June 2, 2006, 12:13 am
Filed under: general

According to one of my uber-cool co-workers (who also happens to be a very intelligent woman), as a result of French having been the universal language once upon a time, French was actually the language of British courts! I find this fascinating.

But let's get to the point.

I've been thinking about economics lately. For those of you who have taken any economics courses, a) sorry and b) you may recall the discussion of different types of "goods". There are many varieties – public goods, luxury goods and so on. One of the "goods" always struck me – the "Giffen Good", which isn't what we used to call it but is apparently what it's called now (http://www.bized.ac.uk/cgi-bin/glossarydb/browse.pl?glostopic=0&glosid=175).

Anyway, this was the one where your prof would tell you how some goods that we consume at lower income levels (i.e. as a student) will be abandoned once we start to earn more income – basically the opposite of a luxury good. The theory is that no one in their right mind would consume such a good if they had a financial choice in the matter. And what was the example that they used every single time? Kraft Dinner.

I'm pleased to say I was right (…usually am). I still love KD. You do too.

And so my recommendation this Friday – go get yourself a box (in the obscene event that you don't already have several in your cupboard), spice it up with some hot dogs and/or ketchup if you need to, and don't forget to save some for lunch the next day because we all know how lovely it is cold. And last but not least, enjoy turning economic theory on its head (baby steps). It's the beginning of a revolution…

 

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2 Comments so far
Leave a comment

What?

Comment by Dad

He doesn’t get it. Thats what I will feed him from now on.

Comment by YVOSM




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