Economist 1, “Look, there is a $20 bill on the ground!”
Economist 2, “Can’t be. If there was a $20 bill on the ground, somebody would have already picked it up.”
It’s an old joke, not exactly very funny, but it does illustrate how economists think. Economists have the luxury of making assumptions. If the government decreases taxes, all things equal, people will spend more money.
Featured image from Shutterstock.
Conclusion
Economists make assumptions and create models to simplify complex concepts and ideas. According to this simple model, each bitcoin is worth $15,882, which is approximately 46% higher than current valuation...Click here to know the details story
AUTHOR
Mark Kirker
Please visit my blog: @nixon73