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December 13, 2017 

AmosWEB means Economics with a Touch of Whimsy!

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A POSTERIORI: A conclusion reached through logical reasoning based on facts and observations about the real world. This notion is closely related to the scientific verification of hypotheses and the identification of principles. A similar sounding, but opposite term is a prior, which is a unverified presumption made before an analysis is undertaken. For example, in the study of economics of crime you might assume, a priori, that people are basically "good", and conclude, a posteriori, that people are more likely to commit crimes when the threat of capture and conviction is lower.

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PINK FADFLY
Your compete MICRO*scope for today

You are the type of person who wonders how some people are able to make it through life without a sense of style. Family and friends worry that you will be seriously injured in your closet by a cascading avalanche of new clothes. Today, you are likely to spend a great deal of time at a flea market trying to buy either a 200-foot blue garden hose or a video camera with stop action features. Be on the lookout for poorly written technical manuals. You should consider shopping at stores or businesses beginning with the letter S, but do not buy any products with a serial number or product code containing the number 927024. Your preferred shopping venue is high-end specialty stores. Your special symbol is the forward slash (/).


Is this You?

As a Pink Fadfly, you flutter from store to store, from product to product, looking for the latest fashions. You are the trend-setter and at the forefront of all fads. If it's new, if it's trendy, if it's on the cutting edge, you are there. Price is not important. Quality is not a prime consideration. For you it's not a matter of form over function or style over substance. The latest trend trumps all.


This isn't me! What am I?
INCOME RECEIVED BUT NOT EARNED

The three types of income received but not earned (IRBNE) are Social Security payments, unemployment compensation payments, and welfare payments. These are three key transfer payments from the government sector to the household sector. The basic goal of transfer payments is to transfer a portion of the income earned by the factors of production (because they HAVE income) to other members of the household sector (who presumably NEED more income than they have). IRBNE is added to national income to derive personal income.

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Fact 5: Our Necessary Evil

It's time to give up our attempts to enter the Merciless Monolithic Media Masters Cable Television Company, Inc. office and take care of other pressing business -- taxes. The next stop on our excursion through the economy is the Shady Valley City Hall, where we need to momentarily, and begrudgingly, pause so that I may pay my semi-annual property tax bill. This is the least enjoyable stop -- at least for me -- on our journey. Grumble. Grumble. Grumble.

Of course I hate to pay taxes! But, then again, who doesn't? Taxes are one of those annoying and evil necessities of life that simply can't be avoided.

Or can they? Do we have to pay taxes? A quick visit to a bookstore will produce dozens of books telling you how to avoid taxes by investing here or buying this or doing that. Better yet, if we could rid ourselves of the inefficient, bloated, incompetent, do-nothing government, then you and I wouldn't have to pay taxes. Right? We could use our hard-earned income to buy stuff that we want, rather than letting the inefficient, bloated, incompetent, do-nothing government spend it on stuff that we don't want, don't know anything about, and will never need. Right?
Tell me more...

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APLS

A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
"Follow effective action with quiet reflection. From the quiet reflection will come even more effective action. "

-- Peter F. Drucker, author

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