Friday, October 12, 2007

Brevity Is the Sole of...Economic Thinking?

You might want to take a look at today's Brevity comic strip in your local newspaper. If you don't get this strip, here's a link (link no longer operational) to the appropriate installment.

Upon seeing this cartoon, I could see some possibilities for discussion in economics or even personal finance. Most obviously, this lends itself to a discussion of value. What is the cartoon saying about what society values? Is this truly representative of how society chooses?

Digging deeper, we can address whether we are moved more by short-term gratification or long-term. One can easily state that feeding the homeless has more long-term positive benefit. Does a choice like this employ analysis of marginal cost vs. marginal benefit? What about the idea of psychic income? Would this involve making a choice based on emotion over logic?

And would a choice open insights into how we choose to manage our scarce resources (budgeting)? I think this has some potential. What are your thoughts?

No comments: