Thursday, March 31, 2005
Economics of Life 101
Random Prelude
Have you been outside lately? Have you been enjoying your day? Have you seen a mob of painted lady butterflies? Have you been attacked by a painted lady butterfly? Have you smashed into few painted lady butterflies w/your car on your way to work/school/home/errands/etc. ? If you have...you are not alone! Lots of Californians are experiencing the same phenomenon as you! Such an "attack of the butterflies" is due to the luring of the plentiful rainfall and lush plant growth which causes the butterflies to fly from inland deserts and Mexico towards greener pastures in Oregon/Washington. Huge migrations happen only once or twice a decade when the conditions are just right! So catch the flow and enjoy the fun....set a trap and net yourself a few butterflies...it won't be as easy after this time! To order some already caught/smashed butterflies...call this number now! 1-800-But-a-fly
Lesson Begins
For those of you who have been through the hellish Econ classes should know the Law of Diminishing Returns. As a background for the ones that don't know or the ones that sleep through the classes or the ones that finds education as a piece of crap...Law of Diminishing Returns simply states: if one factor of production is increased while the others remain constant, the overall returns will relatively decrease after a certain point...which in lamen term is that as more of an input is applied, each additional unit produces less and less additional output. The principle, first thought to apply only to agriculture, was later accepted as an economic law underlying all productive enterprise.
Now that you have a brief background from Dr. Chi...I will proceed to inform you how such a law applies to real life situations....
Productivity obeys the Law of Diminishing Return. You must think...well...duh... Hold your horses...I will get to my point. When you are at work or at school...You do work or study (ok..no brainer right there). In the beginning...you will try to be productive to impress the boss or study a lot to obtain good grades. It is a rather fulfilling sensation..the feeling that you were being "productive". You keep performing tasks and want to have the fulfillment all the time! However, as time goes on, the sweet sensation of being productive disappears and is replaced by the bitterness left by the excessive work load or over nerding. Thus, implying that you work output increases, as defined by the phrase of "being productive", while others (work load, study materials) remains constant, the overal returns (the fulfilling sensation) will relatively decrease after a certain amount of time. Now...you just dread being productive and want to be lazy.
If our productivity follows the Law of Diminishing Returns and we'll get tired of being "productive"...what's the point then?
Way to combat: DONT be productive on a daily basis except for perhaps one day out of the week..this way, you will experience the complete and total fulfillment of being produtive every time you try it and you only have to work one day of the week! Based on the Law of Diminishing Returns...this is the only way we will have increased spur of work output while other remain constant and STILL have an increasing overal returns! GENIUS!
I am practicing my own theory right now by blogging at work....let's see how well this works out...
Disclaimer: This is only MY theory. I am not responsible if you indeed chose to follow such a hypothesis and is fired by your boss, failed a miderm/final/class, and obtained "bum" status.
ah yes...my way of life
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You have just survived one hellish blog. Thank you, the Devil awaits your re-visit..Mwa ha ha ha ha
Have you been outside lately? Have you been enjoying your day? Have you seen a mob of painted lady butterflies? Have you been attacked by a painted lady butterfly? Have you smashed into few painted lady butterflies w/your car on your way to work/school/home/errands/etc. ? If you have...you are not alone! Lots of Californians are experiencing the same phenomenon as you! Such an "attack of the butterflies" is due to the luring of the plentiful rainfall and lush plant growth which causes the butterflies to fly from inland deserts and Mexico towards greener pastures in Oregon/Washington. Huge migrations happen only once or twice a decade when the conditions are just right! So catch the flow and enjoy the fun....set a trap and net yourself a few butterflies...it won't be as easy after this time! To order some already caught/smashed butterflies...call this number now! 1-800-But-a-fly
Lesson Begins
For those of you who have been through the hellish Econ classes should know the Law of Diminishing Returns. As a background for the ones that don't know or the ones that sleep through the classes or the ones that finds education as a piece of crap...Law of Diminishing Returns simply states: if one factor of production is increased while the others remain constant, the overall returns will relatively decrease after a certain point...which in lamen term is that as more of an input is applied, each additional unit produces less and less additional output. The principle, first thought to apply only to agriculture, was later accepted as an economic law underlying all productive enterprise.
Now that you have a brief background from Dr. Chi...I will proceed to inform you how such a law applies to real life situations....
Productivity obeys the Law of Diminishing Return. You must think...well...duh... Hold your horses...I will get to my point. When you are at work or at school...You do work or study (ok..no brainer right there). In the beginning...you will try to be productive to impress the boss or study a lot to obtain good grades. It is a rather fulfilling sensation..the feeling that you were being "productive". You keep performing tasks and want to have the fulfillment all the time! However, as time goes on, the sweet sensation of being productive disappears and is replaced by the bitterness left by the excessive work load or over nerding. Thus, implying that you work output increases, as defined by the phrase of "being productive", while others (work load, study materials) remains constant, the overal returns (the fulfilling sensation) will relatively decrease after a certain amount of time. Now...you just dread being productive and want to be lazy.
If our productivity follows the Law of Diminishing Returns and we'll get tired of being "productive"...what's the point then?
Way to combat: DONT be productive on a daily basis except for perhaps one day out of the week..this way, you will experience the complete and total fulfillment of being produtive every time you try it and you only have to work one day of the week! Based on the Law of Diminishing Returns...this is the only way we will have increased spur of work output while other remain constant and STILL have an increasing overal returns! GENIUS!
I am practicing my own theory right now by blogging at work....let's see how well this works out...
Disclaimer: This is only MY theory. I am not responsible if you indeed chose to follow such a hypothesis and is fired by your boss, failed a miderm/final/class, and obtained "bum" status.
ah yes...my way of life
Post a Comment
