Sunday, August 26, 2007

Brad Denton Explains Why Economic Analysis Alone is Not Enough

by Ken Houghton

Brad Denton at Eat Our Brains, an excellent, social, cultural, and inadvertently-political novelist and brilliant short-story writer but so-so Do-It-Yourselfer analyses the Labor-Leisure Tradoff and the Substitution Effect in attempting to Maximize Utility:
Dear MHG: I don’t know. I’m supposed to be writing a novel. Won’t it be a better use of my time to work on the book and hire someone else to do the water-softener job?

Dear DIM: That depends. What kind of advance are you expecting?

Dear MHG: Okay, I’m ready to start on the water-softener project.

Read The Whole Thing.

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