But really, it's not what you think
Lady Gaga holds no fascination for me
but Economics does
Linked by Instapundit, the Lady Gaga Economy
The Lady Gaga phenomenon conquered the Today Show this morning, with what must have been the largest crowd they’ve had in their summer concert series.
In the convoluted way things occur to me, I thought of the contrast between our limping general economy, and her thriving fame-monster micro-economy.
Say’s Law in economics is the proposition that supply creates its own demand. A relative overproduction of certain goods may occur, implying that too many scarce inputs have gone into the production of unwanted items relative to inputs for desired goods. But general overproduction — to which demand stimulus would allegedly provide relief — is not the core economic problem.
Right now, there’s lots of demand for Lady Gaga, say; but maybe too many houses, cars for sale, and hokey Internet startups.
So let me see if I get this right, what he's really saying is that we need more Gaga and less goods.
That just can't be good
Happy Friday everyone
And to my blogger friends who've been sweltering in the heat wave from Canada to France, I wish you cool breezes and plenty of ice for your drinks this weekend.
