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.
Saturday, April 9, 2011
The Government Shut-Down, Vol. II
Just when you thought it was over, that the almighty national gov't would close up shop (in all the ambiguity of that concept), a guy from Ohio of all places, goes all in and wins the poker match. Politics, truly. (Poly=many; tics=blood sucking insects) http://www.foxnews.com/politics/2011/04/09/did-keys-boehners-budget-victory/
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The word of the day is, "all".
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