Monday, 13 February 2012

Come on baby, be my econo-Valentine

It’s not quite “come on sucker, lick my battery” stuff, but economists are warming up for Valentine’s Day with the #FedValentines tag on Twitter [hat tip Offsetting Behaviour]. My favourites, from the SanFrancisco Fed:

I'm going to extraordinary measures to increase your stimulus.

My love is elastic, my commitment too big to fail.

And from NPR’s Planet Money:

But, soft! What light through yonder discount window breaks? It is the East, and Ben is the sun.

I'll be your lover of last resort.

And the Marvin Gayesque:

When I get that feeling I want quantitative easing.

With those out of the way, Craig Biddle identifies a more serious point: the connection between Say’s Law and Romantic Love (and you were going to say you’d just been thinking along those lines, huh?):

The realm of romance, like that of economics, is governed by Say’s Law. Supply constitutes demand. What you produce (supply) is what you have to trade in the marketplace (demand.
    Say’s law does not mean that if you create something people will want it—or “if you build it they will come.” It means that if you want to trade with others, you have to produce something with which to trade—something of value. The values you create—whether computers or works of art or educational services—constitute your demand on the goods and services created by others. What you create is what you have to offer in trade for what others create.
    The same is true in romance. If you want a relationship of mutual love, you have to produce something with which to trade—something that a good person will want and be able to love. The one and only demand you can exert in the realm of romance is what you have made of yourself. That is your “supply”; it’s what you bring to the table.
    This is not an analogy; it is the literal truth. And it applies to both mind and body…
    If we want a wonderful, lasting romantic relationship—if we want to fall in love and stay in love with a great girl or guy—then we have to make ourselves of value to such a person.
Supply constitutes demand. “Take what you want and pay for it”….

* But maybe if Flight of the Conchords were to try econo-ditties as well as Robo-boogie?

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