Economics 1.01

Yesterday I was wondering why a 3 bedroom detached house with 3 car garage on 1/4 acre lot a 5 minutes stroll from a beautiful long stretch of Lake Michigan beach...house ...sells for almost exactly the same as an empty boat berth (slip) in Malahide and for less than a public toilet in Dublin.\*

I wondered whether engineers could ever understand the goofy logic of economics, why stock analysts encourage short-term thinking, fluff and downsizing and discourage R&D and innovation, why penny wise and pound foolish is the rule rather than the exception and why governments don't understand the law of diminishing (tax) returns. But then Bryan Cantrill wrote an excellent article on the Economics of software. Bryan, you should submit this to The Economist,The Wall Street Journal, IEEE spectrum or something!

\*I now believe the answer to my real-estate question is a modified realtor's cliche: LOCATION, LOCATION, LOCAT-Irrational exuberance.
Comments:

Post a Comment:
Comments are closed for this entry.
About

bnitz

Search

Archives
« April 2014
MonTueWedThuFriSatSun
 
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
    
       
Today