An economics student approaches his economics professor and says, "I don't understand the point of BEE. Can you explain it to me?"
The professor replied, "I don't have any time to explain it at my office, but if you come over to my house on Saturday and help me with my weekend project, I'll be glad to explain it to you." The student agreed.
At the agreed-upon time, the student showed up at the professor's house. The professor stated that the weekend project involved his backyard pool.
They both went out back to the pool, and the professor handed the student a bucket. Demonstrating with his own bucket, the professor said, "First, go over to the deep end, and fill your bucket with as much water as you can." The student did as he was instructed.
The professor then continued, "Follow me over to the shallow end, and then dump all the water from your bucket into it." The student was naturally confused, but did as he was told.
The professor then explained they were going to do this many more times, and began walking back to the deep end of the pool.
The confused student asked, "Excuse me, but why are we doing this?"
The professor matter-of-factly stated that he was trying to make the shallow end much deeper.
However, after the 6th trip between the shallow end and the deep end, the student finally replied, "All we're doing is wasting valuable time and effort on unproductive pursuits. Even worse, when this process is all over, everything will be at the same level it was before, so all you'll really have accomplished is the destruction of what could have been truly productive action!"
The professor put down his bucket and replied with a smile, "Congratulations. You now understand BEE" .
Hat tip: W.H.
Thursday, March 19, 2009
BEE Economics 101
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3 Opinion(s):
It's called a zero sum game. Take from one and give to another, but in totality nothing has improved.
BEE Economics 102: the swimming pool is empty because of lack of maintenance. Huge cracks in the walls caused the water to seep out.
BEE Economics 103: The black owners of the property with the defunct swimming pool can't pay the bond, move back to the township, and rent the property to 50 blacks. The tenants destroy the property and eventually move on to plunder another property where the owner can't pay the bond. Squatters move onto the land and remove whatever is left.
Excellent comparison and BEE very well explained!
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