Re: Katrina (OT to garden stuff, don't flame me, just don't read it)
- From: "Vox Humana" <vhumana@xxxxxxxxxxx>
- Date: Thu, 01 Sep 2005 12:32:48 GMT
"madgardener" <madgard@xxxxxxx> wrote in message
news:43166fca_1@xxxxxxxxxxxxxxx
>
> "Vox Humana" <vhumana@xxxxxxxxxxx> wrote in message
> news:rbsRe.57936$ja7.11883@xxxxxxxxxxxxxxxxxxxxxxxxx
> > On the first day of Economics 101 you learn about the trade-off between
> > "guns and butter." Someone must have skipped that class.
> >
> >well Vox, I didn't have Economics 101. kindly enlighten me, I might be
52
> >but I'm willing to learn more. (not being sarcastic, either)
> madgardener
>
The comment wasn't directed at you, but the person who decided that we
needed guns instead of butter. The "Guns and Butter" curve is based on the
fact that there is limited productivity. You can produce guns OR butter.
When one product goes up, the other goes down unless you can increase
productivity. This illustrates the concept of "opportunity loss." In other
words, when you decide to go to war, you experience an opportunity loss to
produce (or afford) things like infrastructure and consumer goods.
http://www.investopedia.com/terms/g/gunsandbutter.asp
.
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