economics

I used to argue with James P about economics. He’d got his job at the Bank of England, he’s probably still there now. He was investigating what held back third world economies. Among other things. He’s the only economist I’ve ever known, so I enjoyed throwing things at him, seeing if I could catch him out.

I used to argue with him about a supposed individual, living somewhere like the Caribbean. Might be reading a book about him at the moment. This individual does fuck all. He (was always a he) sits in a hammock all day. Picks fruit from the tree. Water from the well. They are content with their life. In spite of the fact it can be ascribed no economic value. They earn nothing. Perhaps they are good friends to their friends or they think remarkable thoughts, but to all intents and purposes they contribute nothing. And yet they are happy. Where is this individual’s economic good to be located? If it exists at all.

Hypothetical hammock man used to keep me going for ages. We’d wade through curries talking hypothetical hammock man. I can’t remember what the solution to his problem might have been.