Friday, November 2, 2007

Will the sun REALLY come out?

An excerpt from my amazingly dry theory reading for torts:

"Fleming James articulated this loss-spreading goal in terms of the marginal utility of money, which he explained with his 'bottom dollar' thesis."

Apparently, one's 'bottom dollar' is that person's most valuable dollar and every dollar thereafter has decreasing value to that person. All this time I've been listening to Annie sing 'Tomorrow' and I never knew that she had any concept of economic theory! There she was, in the middle of the depression, telling everyone to go ahead and bet their most valuable dollar that the sun would come out the next day. Literally, there are very strong odds for this. Figuratively, which I think is the way that the little orphan meant, she was running a lot more risk with her betting than she maybe should have been. People betting their most valuable dollars is not a way to end a depression.

This, of course, was not at all the thrust of my reading and I am just as lost now as I was before, but my professor is 15 min late to class and i have showtunes stuck in my head. Happy friday.

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