The Price of Love

I have often remarked that, if I could do it all over again, I should have been an economics major. I was the curve-setter in my micro-econ class and ended up with over 100% for the semester. And my interest in the topic has continued far beyond my college years. In fact, I may be one of the few living Americans (human beings??) who has watched an entire session of (former CBO Director) Douglas Holtz-Eakin's testimony to a session of Congress live on C-SPAN.

Talk about your riveting drama. I mean who could take their eyes off this guy when he's discussing the deadweight cost of proposed tax legislation? (Notice the gritty stubble mildly evoking the Don Johnson-Miami Vice look, but sans the pastel-hued linen sportcoat to maintain an aura of gravitas.)


(Douglas Holtz-Eakin)

In any case, had I followed this potential lifepath, not only might I have had the chance to hang out with Doug (or Holtzie-E as he's known on "the street"), but it is possible that I could have more efficiently won the affections of my lovely wife through the use of love ballads such as the one noted below.

I mean, what woman could withhold her heart when courted with the likes of this:

"Girl Your Marginal Benefits" (listen here)

Now girl being with you has always been so tough
With each passing minute your marginal cost goes up
But my love is inelastic and it all belongs to you
I'm the only love producer and my good is for you to consume

Cause girl your marginal benefits far outweigh your marginal costs
Without our equilibrium baby well you know I'd be lost
Trapped inside this market I need you to buy my love
Girl without your complementing goods well I'm just not enough

Now you say that I'm producing below my ATC
But I'm optimizing quantity baby, why can't you see?
We could share this surplus each and every day
If you would just buy my love I'd make my fixed costs go away

Baby I want to keep you for the long run (Oh yeah)
I think our supply and demand will become one

Cause girl your marginal benefits far outweigh your marginal costs
Without our equilibrium baby well you know I'd be lost
Long run equilibrium is no place for me
I need the profits of our love to grow exponentially

Courtesy of Greg Mankiw.