The #1 Economic Fallacy

Bob sees that Tom is selling oranges.

Bob to Tom: "What is your price for oranges ?"

Tom: "One shekel per orange."

Bob: "Agreed. Give me ten oranges, here is ten shekels for you."

Whereupon Bob delivers to Tom ten shekels and Tom delivers to Bob ten oranges.

The common belief - Bob's wealth has lessened by 10 shekels.

The economic truth - Bob's wealth has increased. IN-EFFIN-CREASED (He prefers ten oranges to ten shekels. Likewise, Tom's wealth has increased.)

The fortunes that the sellers amassed were not a deduction from the buyers' wealth. Buyers and sellers both gained from these transactions or the transactions wouldn't have continued. 

http://www.investors.com/NewsAndAnalysis/Article.aspx?id=534232


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                                   Thank you, Google Alerts.

I have no idea who Emily Lebsack is, whether she is the photographer or the subject,

but if a woman from Wyoming travels to Oakland, California for a college degree and this is the result -- Happy, Happy.

Mills College - Oakland, California

Uncle Tim has worn the graduation robe twice and I don't recall anyone like this hovering near the ceremony. 


If UTD is anything like Mills College ? - Nephew Josh, study hard but also enjoy your college years.


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             Shakespeare in the Courts
http://www.boston.com/ae/theater_arts/articles/2010/05/18/caught_in_the_act_juveniles_sentenced_to_shakespeare/?page=1 


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                    Bears may shit in the woods but not hunters

Anna Dunbar, regional director of the Texas Commission on Environmental Quality's Waco office - Outhouses of this sort are "strictly prohibited."
http://www.statesman.com/news/local/if-a-hunters-gotta-go-whats-wrong-with-693602.html





http://americanhiking.chattablogs.com/archives/063487.html

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