The Economics Of The Truth

How often and when do you hear the truth? For an economist, that is an easy question to answer provided the economist’s mind is not trying to avoid the answer.

You hear the truth when honesty has utility to the person who is communicating with you. More often than not the truth is rejected by the person who is hearing it. Politicians lose votes by telling the truth, so you are likely to hear something else. Commercial enterprises which advertise must lie because consumers will only respond to embellishments and outright fantasies.

I will say it again. When a lie is told there are normally two guilty parties. There is the liar of course and also the one for whom the truth isn’t good enough.
Does Curbside Jimmy get a grant from the government to ride the rails?

The K.C. Moan A find traditional tune from the 1920’s