David Ricardo, Alan Blinder and “being an economist”

Alan Blinder’s book Central Banking in theory and practice is a great “little book”about Monetary Policy.

But my favorite quote in the book is by far:

“…I always harbor doubts about my economist friends who tell me they mow their own lawns, rather than hiring a gardener, because they actually enjoy cutting grass. Such a claim is suspect on its face. But more to the point, a true believer in comparative advantage should be constitutionally incapable of enjoying such activities; the David Ricardo inside him should make him feel too guilty”

Well..I certainly do have a David Ricardo within me (not only in my name), but I guess if the guy really enjoys mowing is lawn, the Greatest Economist wouldn’t frown about it, because..hey it’s leisure!

But a true believer in David Ricardo, a true economist, will avoid at all costs doing something he does not like. He shall specialize in “that thing” he is better (or  less bad) and buy everything else from another “specialist”.

And that’s what I like to think, when someone calls me lazy…

I am not lazy, I am a true Economist!

(Of course I am lazy), but at least I am following the footsteps of the Great David Ricardo!


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