A LETTER OF LOVE WRITTEN BY AN ECONOMIST. #My Economics like dear, I believe in the fact that you love me asRobbins Unclebelieved in histheory of wants and needs. Your love is anassumptotic functionwhich can never be zero and one day the curve of your love will rapidly grow and will make hockey shape curve likemarginal cost curvebecause the supply curve of my love is horizontal at the time showing infinity, means its slope and rate of change is zero. You can trust me asgold standard moneyis trustable. Maybe, now, the graph of circumstances is showing my love asshort run function, but I assure you that I shall provide appropriate circumstances to change it intolong run functionand shall produce the love according to your demand. I promise you that I will invest my love and it does not matter to me that how low your return rate is(see I can leave rational behavior for you)and if you would give me appropriate return for my investment of love, I will again invest that return because myMPI(marginal propienciety to invest)is equal to one at the moment and this is how we can, in the consequence ofmultiplier effect,produce love to infinity and we together can increase the love level in the economy to get equilibrium point of love in the economy and in the world. As you know that I am a big fan ofLord Keynes, so I want to apply it on macro level instead of micro and in this lies the existence of our economy and world. I have a dream that we both create perfect competitionfor lovers where the combination of lovers would be on the point where demand and supply curves o both would intersect. There would bemonopolyof lovers in the market and barriers on the entry of rivals and they would have to bear the loss more thanaverage fixed coston entrance and they would have to exit. More than that I assure you that I will keep you happy because I am arational personand keep in mind bothcardinal and ordinal theories of utility maximization. I would, for you, increase myMPC(marginal propienciety to onsume)to one. I know that the rate of your love is of progressing nature, which increases with the increase in income, so, I have decided to increase my income through black marketing, smuggling, corruption, profiteering, and tax embezzlement and fraud to satisfy your demands. And before that my taste and habits change or I and other lovers makecarteland decrease supply of love because of high demand(in consequence of which it is predicted that the price of love will increase to double from one to two hearts and yet Islam allows for four)and government may impose tax on the activities of love, due to increasing trade deficit, you will have to think about my proposal. This is a hypothesis of mine which can be converted into the theory if you marry and we may create a model. Now, you must accept my proposal because you are a big fan of models. Only yours,
Posted on: Wed, 05 Mar 2014 11:59:33 +0000
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