Her explanations might be a good way to introduce/discuss a discount rate in undergrad teaching. Definitely worth mentioning in grad econ: in multi-period models we use a discount rate not just because the functional wouldn't converge mathematically without it.
Also wanted to say: Just like cooking food is a way we have "cheated," to use her word, I would say that public health infrastructure is another way we have "cheated." Brad, well functioning arterial sewage and water supply systems are a very modern thing. They can be traced back only to the late nineteenth century. In the material I keep promising to send you, but haven't so far, this comes across as one of the important ways the masses were able to taste the "economic pie" that has enlarged so much since then. On that issue, even some of the lowest rungs on the economic ladder today seem to be better off than royalty a century or two ago.
Oops, I thought you had responded to my poetry comment today. But yeah, the moment she spoke about intelligence, after defining it carefully, light bulbs came on right away.
Yes!
Her explanations might be a good way to introduce/discuss a discount rate in undergrad teaching. Definitely worth mentioning in grad econ: in multi-period models we use a discount rate not just because the functional wouldn't converge mathematically without it.
Also wanted to say: Just like cooking food is a way we have "cheated," to use her word, I would say that public health infrastructure is another way we have "cheated." Brad, well functioning arterial sewage and water supply systems are a very modern thing. They can be traced back only to the late nineteenth century. In the material I keep promising to send you, but haven't so far, this comes across as one of the important ways the masses were able to taste the "economic pie" that has enlarged so much since then. On that issue, even some of the lowest rungs on the economic ladder today seem to be better off than royalty a century or two ago.
Oops, I thought you had responded to my poetry comment today. But yeah, the moment she spoke about intelligence, after defining it carefully, light bulbs came on right away.
And that's a translation