Burger King Economics: Attaching Dollar Signs to Everything Doesn’t Bode Well
Brandon T. Minister, Staff Writer My brother-in-law once said to me, “What I love about economists is the way they can put a dollar figure on everything. They can say, ‘Sitting at one additional traffic light costs a driver $5.37.’” It is nice of him to tell me what he loves about my profession, especially since I’ve never once returned the favor with, “You know what I love about energy traders . . . ?” However, I can’t tell if he means he loves economists like he loves his wife, or if he just loves us like he loves watching Dumb and Dumber. Is what he loves about the cost-benefit analysis-laden world of economics the ridiculousness of it all? It’s true that economists try to attach a dollar figure to everything. The opinions of haughty arts majors aside, this is a helpful practice. Dollars are the universal common denominator, allowing us to compare two unlike things. If a shirt or a painting has no quantifiable value, I can never know how many paintings to give you as compensation for taking one of your shirts. When we turn them both into dollars, we can start trading. Most people don’t have a […]
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