Rajesh Shares ...

Posted by Rajesh Shah on May 18, 2011
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On an email thread with Ragu, I shared this Save Mankind From Business talk I had given at a business school, in 1994, which rightfully caused a fit of apoplexy amongst the Dean and school management. :)  "On the first day of class, we were told that Microeconomics is 'the study of how scarce resources are and should be allocated.' Note the key word scarce. So we ignore all things that appear abundant until they become scarce. The Armchair Economist, Landsburg, notes that we will worry about trees when we come down to the last few. At that time can we expect technology to replace an entire rain-forest instantly?"

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