My inspiration for starting a new blog was about trying to emulate one of my new personal heroes, Greg Mankiw. Mankiw’s blog has become for me an inspiration that what I studied for so long has so many real world applications. Obviously, economics is a study of the world and the trade-offs we make in this world.
Today I took a walk back to all the time I spent becoming educated on these various topics that encompass finance and economics. I took time off from my job so I could visit a professor at the University of Delaware. On the walk to his office, I saw something that illustrated to me the unique environment that a school provides (fortunately or unfortunately depending on anyone’s personal experience).
On Main Street I saw a car parked with its hazards – or four-way flashers if you prefer – parked in a metered area. Right as the “meter maid” (in my last six years I have never seen this lady do any other sort of “police work”) was starting to give a ticket, the owner of the vehicle came rushing out, as he was ready to leave. The meter maid coerced the owner of the vehicle to stay in order so she could write the ticket out and give it to him. Now, realize, the owner was going to move the car, but was forced to wait in order to receive his ticket. But wait, there’s more. In giving the ticket, the meter maid parked her vehicle beside the vehicle getting ticketed, which if you know Main Street in Newark, DE, you realize that she double parked and blocked an entire lane of traffic. So, please someone, tell me the efficiency in that.
Why I blog, why many other people blog, and why economists like Greg Mankiw blog I believe is an answer that can be described in the unique environments or situations that people find themselves in. For me – and possibly others – it’s a reaction to the questions that come up in our observations. And in my opinion, because universities and colleges are such unique environments, it’s no wonder that academics have so many things to blog about.