Foundations Of Economic Analysis Puns

I have the PDF for the textbook Managerial Economics 12e from Mcraw hill. If anyone is in need of it feel free to shoot me a PM

ISBN-13: 978-0078021909

ISBN-10: 9780078021909

I'm an economics student and a Hermitcraft fan, so I've been thinking about how hermitcraft follows the rules of a real economy and how it doesn't. Here are a few of my observations:

1. There is no fiat currency or even a currency backed by a commodity, only diamonds (a commodity currency). This would naturally occur since the Hermits have never implemented a central bank or government to issue an alternative currency. (Yes, season 7 had a mayor but Scar only implemented one economic regulation- a rule that required all shops to pay a diamond block to access the roads).

2. Evil X's Derpcoin scam is really funny, because while (if implemented correctly) it would be an effective scam, there is a way to stop it. If the hermits implemented a central bank that took control of the creation of derpcoin from Evil X and tie it to a diamond conversion rate, it would effectively transition the server to a diamond gold standard.

3. There are no employees, so there is no wage system. Everyone operates their own business. The closest thing to wages is when hermits work together on a project (like Sahara) and then share the profits. This is a huge difference from real-life economics, so it would be hard to apply a lot of economic models.

4. The hermitcraft server follows a total laisse-faire capitalistic market system (there is literally no government at all). However, since there are no employees to abuse or other negative externalities (such as pollution) to deal with, there are no significant consequences of this system.

5. The only thing that could be considered a negative externality of business would be the increase in lag due to redstone or other entities. The hermits have dealt with this through personal agreement to reduce lag. However, if this agreement were to be broken, then an economic penalty could theoretically be placed on a hermit for lag pollution- a "lag tax".

6. They very successfully employ specialization and division of labor. This makes me wonder if they could or do implement a system of comparative advantage (I'd have to collect actual data to calculate that though).

7. As the seasons progress, the server runs the risk of inflation affecting the value of diamonds. As time goes on, the hermits mine more diamonds, so more diamonds enter the market. However, as farms get built, more resources also enter the market (supply increases), and usually projects get larger and more ambitious, so demand f

Link to the Economic freedom index: https://www.heritage.org/index/

9 of the top 10 nations have universal healthcare. Switzerland has no at will employment. Singapore has the majority of its population living in government owned housing. All of these nations have mandated paid parental leave and mandated paid vacation.

As we all know, these policies will destroy America if they are implemented here. Why is the heritage foundation carrying water for these policies? Are they closet leftists? What can explain their behaviour?

-Albert Fairfax II

Delhi-Dehradun Economic Corridor will reduce the travel time from Delhi to Dehradun from 6 hours to around 2.5 hours. It will have 7 major interchanges for connectivity to Haridwar, Muzaffarnagar, Shamli, Yamunagar, Baghpat, Meerut and Baraut: PMO

Source: https://twitter.com/ANI/status/1465935479451250691?s=20