Unlike Paul, I know the difference between a stock (wealth) and a flow (income). I would have thought that distinction might come up in the economics of trade now and again.
To be honest, I suspect this column owes more to effort avoidance - column due and no ideas or no time to do research - than it does to anything else. Rants take a lot less effort than thinking.
Who was my favorite student this term?
1 year ago