Being married to an economist means many things. For one, it means losing a lot of arguments. Economists are like the physicists of the social scientists. They insist that, when you boil off everything else, their discipline is the one the perfectly describes how everything works.
It also means that you get to hear a lot about bizarre concepts built out of words that you recognize. This seems to be a feature of all social science. I understand what “systems” are and I know the word “change,” but put them together and they mean something utterly baffling.
Capacity building, transaction costs, simulated warfare, informal institutions, rent-seeking – all of these seem simple enough when you read the words but quickly devolve into nightmarish labyrinthine rabbit holes when you make the mistake of googling them. They should take a cue from physicists and just invent new words.
So, I’ve stopped listening. Or, more accurately, I’ve deciding to take these weird phrases at face value. “Underdevelopment, uh huh, imperfect information, sure, public choice theory, – yeah totally.” I assume the first is about puberty, the second is about stupid people and the third has something to do with choosing a Porta Potty at a concert.
Which is why I snickered when my wife mentioned the importance of the “youth bulge.” Mexico, it seems, is not taking advantage of its youth bulge properly and is losing out on opportunities. The only bulges I remember from my youth were just embarrassing.
But, like all the rabbit hole phrases my wife uses, it’s actually a truly incredible concept and may decide the final size of the world’s population.
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