How to Think Like an Economist

Economists are very forward looking. They're like, i got an hour in front of me. How can i get the most out of that hour? Does it matter whether i spent ten bucks on a movie ticket? That's gone. People often get confused when it comes to inflation, particularly with their wage. If we're running to three % inflation in a year and you get a two % raise from your boss, you pat yourself on the back. The reality is they're really just inflation adjusting your wages. And this is a story with a happy ending. I tell you what, that friend of mine got a pretty good raise at the end of that and he'sa several thousand