CONSUMPTION FUNCTION

DAY70 webc_-6Day 70 (March 11, 2014) – New York, NY

True story. I got a “C” in economics in grad school. What’s was the reward for my passing grade, you may wonder…. A nice letter from the chair of the department saying that a “C” isn’t really an acceptable grade at MIT. My response…. Did I pass? Answer…. Yes. Ok then, let’s move on. 🙂

I actually had some fundamental issues with some of my economics teachings and I challenged the professor more than once or twice. (Hmmm, as I think about it, that might be the bigger reason for my “C”).  I remember in one argument (discussion) I told my Prof. that his supply and demand curves and other economic principles simply didn’t work in the hood! And that things couldn’t always be explained away through these tools. Needless to say, I don’t think I was his favorite student.    Even though me and my economics professor ‘aint’ friends I did learn a lot and I find myself thinking about economics, market shifts, supply and demand, and various economic principles on a daily basis. I still think there needs to be some new economic theories and concepts for urban core areas that take into consideration the social and psychological impacts of poverty….but that’s for another day.

So, on this day. I’m waiting for the train and I see a common sight that always puzzles me. Why the hell do magazine stores sell so much junk!?!?!? And who the hell buys this stuff? I’m amazed by the number of magazines dedicated to black hair or fashion. Let’s not forget the seven animal lover themed mags or the variations of gun and photography rags. Wow, there is a lot of junk out there. (side note: I apologize to anyone who is an avid reader of any of these random magazines I’m ranting about.) And there are the countless flavors of gum, five different types of M&Ms and just about any other candy bar / sweet you can name. All of this in a tiny space that couldn’t be more than 4 feet wide.  I would really love to understand the business model of a subway magazine store. They must bring in some bank or else there wouldn’t be as many.  I know I’ve been known to buy a pack of gum or two on my way to Manhattan for a night of partying.  But still, I wonder how it works…I guess there is a high demand for junk – hence the supply of junk.

Advertisements

One thought on “CONSUMPTION FUNCTION”

  1. You forgot to mention the overwhelming number of girlie magazines. Who, indeed, is reading all of this stuff? I think there’s a research grant lurking in this question…

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s