Wednesday 4 November 2009

The basic economic problem

Human wants are infinite; resources are finite. Therefore, how do you best divide these resources?

The answer is: efficiently.

It’s applicable anywhere. For instance, I always want to do a million things, all at once, but I only have limited amounts of time, energy, intelligence, beauty etc so I must set my sights on what I can achieve best when all these things are taken into account

At this very time, in fact, I have very little energy so surely the most efficient thing for me to be doing is NOT writing this blog and going to sleep.

Good night.

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