Baconing The Question

Economics and bringing home the bacon.

So I’m reading this post by Don Boudreaux at Cafe Hayek and come across this bit –

Market prices are not arbitrary.  Prices are determined by the forces that economists comprehend with the theory of supply and demand.  An attempt by government to change a price or wage from what that price or wage would be without government price controls at best masks the true price or wage – in the way that dressing up a woman to look like a man at best changes the woman’s outward appearance without altering her chromosomes.  (Many proponents of minimum wages and other price controls – those proponents who deny that such price controls generate negative effects – are victims of the primitive superstition that the superficial appearance of something is the essence of that something.)

I walk over to my wife who is frying bacon and ask her, “Does this make people like Bruce Jenner a price control on the sexual/marriage marketplace?” A book in the 90s about dating and relationships called The Code¹ defined a false economy as “RuPaul.”

While thinking all this, my wife is lifting the first piece of bacon out of the skillet, and I ask her “Is it still hot?” She patiently points out that she’s taking it out of the skillet right now, so of course it’s hot. We both decided that I can’t process simple things while simultaneously pondering such things as economics.

Side note – Boudreaux often sings the praises of Deirdre McCloskey, but never references the fact that Deirdre was born Donald. I suppose it doesn’t matter when regularly talking about price ceilings, exports, or Keynes, but it’s kinda funny after his comment about dressing up.

Bonus round – A Hayek Outside The Cafe

Example of comments by Stage Three people.

________________
¹ A parody of The Rules

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About nightskyradio

Random signals from nowhere in particular.

Posted on August 11, 2015, in Economic$ and tagged , . Bookmark the permalink. Leave a comment.

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