On Valentine’s Day, an economist might send some production possibilities to her sweetheart:
In addition, an economist’s Valentine would certainly refer to inelastic devotion:
And marginal (extra) returns:
These were some of my favorites:
- “Like fiat money, our love is based on trust.” (Justin Wolfers)
- “You’re my gold standard.” (Justin Wolfers)
- “I’ll be your lover of last resort” (Planet Money)
- “When I look into your eyes, I have no fractional reserve. (Heidi Moore)
- Roses are nice but money we exalt; Be my Valentine and you get the (gold) vault. (econlife)
Our Bottom Line: An Economist’s Valentine Facts
The National Retail Federation tells us that for Valentine’s Day, a typical man will spend $291.15 and a woman, $106.22 Averaging $196.31 for all of us, the total is up 21 percent from last year.
And we will spend the most on candy, cards, flowers, and maybe an evening out:
My sources and more: There are more economist’s Valentines at Elisabeth Fosslien’s website and #FedValentines at Freakonomics. Much less fun, the NRF had the holiday’s facts. And finally, you could want to see how Valentine’s Day relates to the prisoner’s dilemma.