Are There Jobs in Kalamazoo?
Is this a crazy, mixed up economy or what?
In the coming weeks, ShareKalamazoo will be taking stock of the issues that shape our regional economy. Meanwhile, if you want a serious account of what economists at the W.E. Upjohn Institute for Employment Research are saying about how we keep score, click here.
Or, just enjoy this story:
An economist and an accountant are walking along a large puddle. They come across a frog jumping on the mud. The economist says: "If you eat the frog I'll give you $20,000!"
The accountant checks his budget and figures out he's better off eating it, so he does and collects the money. They keep walking along the same puddle when they encounter yet another frog. The accountant says: "Now, if you eat this frog I'll give you $20,000." After evaluating the proposal the economist eats the frog and gets the money.
They go on. The accountant starts thinking: "Listen, we both have the same amount of money we had before, but we both ate frogs. I don't see us being better off."
The economist: "Well, that's true, but you overlooked the fact that we've just been involved in $40,000 of trade."