[lbo-talk] Economics drivel

Doug Henwood dhenwood at panix.com
Mon Jun 9 12:04:22 PDT 2003


Wojtek Sokolowski wrote:


>Exactly. But speaking incomprehensible jargon prevents the riff raff
>from criticizing the brahmins. Take away that, and the "utlity
>function" becomes a "drop in a bucket" , "opportunity cost" becomes a
>"bird in hand is better than two on a bush" and similar all too familiar
>common sense cliches. This is a sure way for a Joe Schmoe saying "I do
>not need an overpaid brahmin to tell me that."

Actually "opportunity cost" is one of the few concepts I'm grateful to formal economics study for. It's not the same as bird in hand. I can't think of any colloquial equivalent for it.

Doug



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