williamcwood.com - William C. Wood – Economics, faith and fun: not in order of importance

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Menu Home-William C. Wood Close Menu Home-William C. Wood Categories Observations Satisfaction isn’t expensive Post author By webmaster Post date July 28, 2020 Sticky post Conventional economics invokes the idea of a race between our limited means and our unlimited wants. Let’s run faster and spend more! But what if we opt out of that race, finding ways to get more satisfaction without consuming more? On this site I explore these ideas, plus themes from popular culture and other random thoughts.

By webmaster Post date December 10, 2022 This is a story I used with my senior economics students who were just about to go out into the wider world.

Once there were two tribes divided by a mountain ridge. They knew little of each other until, one day, a hiker began traveling between the two tribes. He got to know each tribe well and promoted friendly relationships between the two. As time went by, the tribes began to visit, interact, and trade — but always with the possibility of misunderstanding their different cultures. Still, they were far richer in culture and material wealth than when they had been isolated from each other.

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