11/10/2004 12:44 Efficiency, A Kombi's Perspective [General]
Another weekend has passed when I am:
1:- meant to be studying.
2:- meant to be helping work on the kombi
Instead I chose:
3:- looking at the TV guide and deciding what I would watch on TV next week in avoidance of duty 1, and 2.
What is important to understand is that there are economic forces at work here. Contrary to the misguided belief of the Australian voting public low interest rates are not derived from Johnny 'lunch box' Howard and Petey Costellos running surplus budgets in between trips to the Wimbeldon via the white house for a quick exchange of rim jobs. In fact low interest rates are a result of the independent reserve bank manipulating the supply of money in response to cyclical and structural economic conditions. Structural conditions I might add are a result of microeconomic policy decisions which Petey pie had nothing to do with, as they have been implemented over several decades.
But Hey Mike what are microeconomic reforms and how the is it relevant to you being such a good for nothing sajeevan by avoiding your work?
The answer of course, is the Potential Pareto efficiency of me being in absentia. By not doing work with the boys they are able to do it with far greater effectiveness, such that the extra output they produce can fully compensate for my absence. The utility I derive from spending the afternoon entertaining myself reading the TV guide is therefore pure profit !! Everybody is therefore better off with me having done jack !!
If the market was 'structured' then I may have been forced to work thus lowering the effectiveness of productive members of the team.
There you go....an argument for how I can be productive while still engaging in nothing but 'rapacious and pitiless folly.' Which is just how I like it...