Economics Quote of the Week
By David Henderson
Although the week is half over, I bet this one will beat all comers.
David Friedman, after analyzing queues and time lost to government bureaucracy in Britain while he was traveling, had an anonymous commenter who said:
No offence, but I think that you need to get out a bit more. Too much analysing, not enough enjoying.
A minute later, David responded:
I enjoy analyzing.
Why do I call this an economics quote? David is illustrating Pillar #7 of The Ten Pillars of Economic Wisdom: The value of a good or a service is subjective.