Economics for brainlets pt 1 1. Scarcity exists. Everything in existence is scarce to some degree, and ultimately a human lifespan is scarce too 2. People have preferences 3. People take purposeful action to attempt to fulfill their preferences 4. Because of the fact that time scarcity exists, people must make decisions as to how they order their preferences. 5. Likewise, because resources are scarce, people must make decisions about what resources they prefer to accumulate.
Economics for brainlets pt 2 6. When they find it mutually beneficial, people will exchange resources to satisfy their preferences. This is a price; for example, 1 horse is worth 10 bags of wheat. 7. When an exchange no longer becomes mutually beneficial, people will stop exchanging resources. 8. When multiple people trade resources communally, a 'market price' develops for different resources according to scarcity, people's changing desire for different resources, what different resources are used for etc. 9. Scarcity is relative and everchanging, meaning that market prices are relative and everchanging. For example, a famine increases the price of food relative to clothing because food has increased in scarcity relative to clothing. 10. Bartering doesn't always allow mutually beneficial trades if both people don't have exactly what goods the other party desires. This is why money exists as a medium of mutual exchange where both parties agree on the value of the money. Historically money arises naturally in different forms in different societies (gold, salt, gigantic stones), it is not an invention of government 11. 'Hard money' has certain qualities such as durability, scarcity, divisibility, and fungibility (my ounce of gold is equivalent to/interchangable with your ounce of gold). 12. 'Fiat money' (fiat means 'let it be so'), which is the global monetary system of virtually every country today, does not have these qualities and can therefore be manipulated through printing/inflation, allowing whoever has the newly printed money to buy goods at the original market price, and increasing the price of goods for everyone else. This is immoral and why many people (rightly) push for 'hard money' alternatives, like precious metals. coming in a sec
Here's the companion to above, use the numbers as reference if you don't quite get it
grugonomics 1. there not infinite mammoth, shiny rock, fire, cave or big brights 2. grug like mammoth, cave and shiny rock. 3. grug hunt mammoth, clean cave, collect shiny rock 4. grug hunt mammoth first, then clean cave, then collect shiny rock 5. grug hunt 2 mammoth and find 4 shiny rock, or grug hunt 5 mammoth and find 1 shiny rock. what grug do? grug like mammoth more, so grug prefer 5 mammoth and 1 shiny rock 6. grug have 3 mammoth but no club. bleg have 3 club but no mammoth. grug give mammoth for club. bleg happy to give club for mammoth. 7. grug now have 2 mammoth and 1 club. bleg offer 1 club for more mammoth, but grug no want more club and no give. 8. grug swap mammoth for many thing many time over many big brights. grug know mammoth worth 1 club, 3 fire, 10 apple. 9. grug see there not many mammoth this big cold, so grug have to hunt longer. grug now want 2 club, 5 fire or 15 apple for mammoth. 10. grug want 15 apple for mammoth but bleg no have apple, only club. bleg give grug 1 shiny rock for mammoth so grug can get 15 apple from trog. trog happy to give 15 apple for 1 shiny rock. 11. grug, bleg and trog like shiny rock because shiny rock rare, hard and good for many gives. 12. big nose tribe try to make grug use leaf for gives. grug not like leaf, leaf not rare or hard and only good for few gives! grug see big nose tribe pick more leaf from tree everyday, and now grug leaf worth 10 apple, not 15! grug think not fair, grug work hard to hunt mammoth, but big nose tribe not work hard to pick leaf! leaf not good for gives, grug want shiny rocks again. grug say leaf bad to bleg and trog but bleg and trog not understand! what grug do? grug know leaf bad, shiny rock good, grug stack shiny rocks for when bleg and trog understand and grug and bleg and trog beat long nose tribe together!
I want to buy silver cutlery, plates, and cups. Can you microwave a silver bowl? Would likely have to be sterling. I literally want to use my bouillon to heat my hot pockets.
Samuel Butler
Probably the most aesthetic stack I've seen here. beautiful.
saved lol
pretty good stuff. I like how Schiff boils it down; We don't want more money, we want more of the things money buys us. But people are indoctrinated into thinking money equals the things it can buy us.
do not microwave silver lol, its worse than other metals in there
James Garcia
>Can you microwave a silver bowl? Take a guess But sterling stuff is based
I have all of my pickups an acid test today and they all passed, I guess sterling being rarely faked is true. If I had the same make/model of a utensil I didn't test all of them but I see no reason why one random one would be real.
The only thing I can think of that would get me is maybe a thick silver plate but when it has manufacturer's marks + sterling on it you really gotta ask how likely that is.
Brody White
>Can you microwave a silver bowl? I'd tell you the answer, but then you might survive long enough to reproduce and lower the average IQ even more.
