Churchill: "My Dear, would you go to bed with me for a million pounds?"It turns out we need to update the exchange. A student in San Diego is auctioning her virginity to pay for graduate school. The going price right now is $3.7 million.
Astor: "Well, yes, I guess I would."
"How about 100 pounds?"
"What kind of person do you think I am?"
"My Dear, we have already established that. We are merely haggling over the price!"
Applied Rationality focuses on public policy issues and tries to take a liberal perspective that is consistent (comments to the posts will often show otherwise) with neoclassical, rational-choice economics.
Wednesday, January 14, 2009
Prices rising in the service sector
A well-known exchange, sometimes attributed to Winston Churchill and Lady Astor, goes as follows: