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.
Friday, March 18, 2011
Revealed: US spy operation that manipulates social media Military's 'sock puppet' software creates fake online identities to spread pro-American propaganda
Once Upon A Time it was said that "Man Bites Dog" was news. In the same vein, is the story linked and headlined above truly news (implying unusual or new) when such activities have been happening for some time now? In fact, don't we all know (and love?) someone who is doing this RIGHT NOW?!? I mean, come on! Seriously? Really? (And the other 'current' terms used by people in society to express incredulity and sarcasm...) Here's the link if you either don't like to click hyperlinked headlines or it is a borken lnik. http://www.guardian.co.uk/technology/2011/mar/17/us-spy-operation-social-networks/print
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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?