In a recent discussion I had (off-line), someone described the demand for
heroin (by heroin addicts) as perfectly inelastic. I responded that that
was a bit off; if demand for heroin were perfectly inelastic, I would charge
$1 billion a hit, and inevitably find a buyer. I offered, as a
I am not sure one can talk of the demand for
love more than about a demand for happiness. As
Rothbard said, people make choices at the margin, they demand a certain
type of love relationship in a certain period of time.
Formulated this way, it becomes clear that substitution phenomena occur
in
, 2000 8:13 PM
To: [EMAIL PROTECTED]
Subject: Economics of Love
In a recent discussion I had (off-line), someone described the demand for
heroin (by heroin addicts) as perfectly inelastic. I responded that that
was a bit off; if demand for heroin were perfectly inelastic, I would charge
$1
