Econ Discussion

The first article for this week's DG came from the New Yorker. It  introduces the Utility concept, a measure of the value a product creates  for the consumer. It also explores another concept that we discuss in  the course regarding government intervention in the economy through  granting patents and copyrights to encourage innovation. Both ideas are  dealt with here in a more complex, nuanced fashion than we cover them in  the course. The second article, from the New York Times, provides  information on a current initiative to deal with this topic. What is  your reaction to this complexity? Do the articles help you better  understand the rich possibilities of economic analysis? Do you agree  with the conclusions? Would your opinion change if you were a fashion  designer? If so, why? Does the author's reference to aspirational  utility resonate with you? Do you aspire to wear designer fashions and  not much cheaper imitations (the only limit being current income or lack  thereof)? Remember these questions are intended to be discussion  starters. 

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