There Is No Such Thing As Free Lunch

Many years ago, the newly elected President of the land (I don't have any idea what, which and where) made his first official duty. He called in all his economic managers and advisers and told them to write down all the economic activities and knowledge of the society. They were given a year to do it.

So after a year, they presented the result of their Herculean effort. It was written in 30 volumes, with 500 pages each. By that time, the President was so busy with all the affairs of the state that he couldn't read the lengthy volumes. So he told his economic managers and advisers to summarize their reports in one volume with 200 pages.

They could not do anything but follow the President's order. So they went back to their writing desks trying to come up with just one volume of report.

After exerting a lot of effort, they finally came up with one volume, 200 pages report to the President. But again, luck was not on their side because the President could not meet them due to more pressing affairs. However, he sent them a message telling that he could not find time to read the one volume report. So he ordered them to reduce it in one sentence. If they fail to do so, they would be terminated from their jobs.

Given a limited time, the economists returned to their desks, shooing their heads and pondering upon their impossible task. Again, comtemplating on what would happen to them if they failed. They were in deep thought when they chanced to see a television commercial about a scene, where two boys were about to take their meal.

One boy asked his friend if their meal is free. The boy answered yes. But the other boy said no, because someone had to pay for the meal. And so whom is that someone who pays for all the people who prepared their food? Is it not you or probably I?

After watching the commercial, the economists got an idea on what to report to the President. Eventually, they understood the root cause of all economic problems. Hurriedly, they presented the sentence to the President. And you know what the sentence was?


"There is no such thing as a free lunch"- which the economic educators described as the basic concept of economists.



Source: Economics, David C. Colander