Scarcity, Opportunity Cost and Competition impact our decision-making moment to moment. This makes economics the basis of life as we know it, after God. Nothing that people value is free, someone pays the cost. To gain that thing of value, scarce resources are given up and cannot be given up again for a different thing of value. And we all are competing to capture those scarce resources.
Tuesday, January 4, 2011
Europe starts confiscating private pension funds | Washington Examiner
My father-in-law praised my wife and I for our sound choice of acquiring careers in fields with great pensions. I am a public school teacher in Michigan, my wife works at a regional hospital. I was amazed that he still believes that money will be there, both Social Security and my teacher pension in a few decades. Personally, I plan on working until I drop.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment
Share your unique economics experiences. What did you have to give up to gain that which at the moment seemed so necessary to you? Imperfect information spanked you and now diminishing marginal utility smacks you upside the head, eh?