Once upon a time, Daddy Economist, Mommy Economist, and a litter of little Economists were in a mountain cabin, sitting in front of a small coal-burning stove to keep warm. Although most people know that when coal burns, it's gone forever, Daddy Economist isn't worried because he was trained -- like a mindless robot -- to believe that when the coal is gone, a substitute will magically appear. So when the coal is gone, he looks around, and his furniture pops into view -- just like magic! So Daddy Economist decides to maximize his utility by breaking up his furniture and burning it in the small stove.

Now the Economists must sit on the floor, but heck, it's better than the alternative: dying. Then one day, SURPRISE!!! All the furniture is nearly gone. But Daddy Economist isn't worried because he believes a substitute will magically appear. So when the furniture is gone, he maximizes his utility by ripping the boards off the walls of his cabin and burning them in the stove to keep warm.

Now the Economists must sit on the floor very close to the stove, but heck, it's better than the alternative: dying. Then one day, SURPRISE!!! The Economists' cabin is completely burnt up. But Daddy Economist was trained not to worry. He decides to maximize his utility by pulling the clothes off his family and burning them in the stove to keep warm.

Now the Economists are forced to stand right next to the stove and constantly turn, but heck, it's better than the alternative: dying. Then in a few hours, SURPRISE!!! All the Economists' clothes have been burnt in the stove. But Daddy Economist isn't worried because he is going to maximize his utility by...

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