3 ms·

So the nicely sloped supply and demand curves are economic equivalent of spherical cows and as much as we shouldn't design a milk industry around spherical cows

• cs702 2y ago
  For anyone here who doesn't get the reference to spherical cows, it's from an old joke: > Milk production at a dairy farm was low, so the farmer wrote to the local university, asking for help from academia. A multidisciplinary team of professors was assembled, headed by a theoretical physicist, and two weeks of intensive on-site investigation took place. The scholars then returned to the university, notebooks crammed with data, where the task of writing the report was left to the team leader. Shortly thereafter the physicist returned to the farm, saying to the farmer, "I have the solution, but it works only in the case of spherical cows in a vacuum." Source: https://en.wikipedia.org/wiki/Spherical_cow https://en.wikipedia.org/wiki/Spherical_cow