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Making money

11qauhdkfll Terry Pratchett's latest, 'Making Money' - despite having very obviously been inspired by a cursory reading of the first chapter of 'Extraordinary Popular Delusions' - contains some lovely economic homilies. My favourite so far:

"On a desert island gold is worthless. Food gets you through times of no gold much better than gold gets you through times of no food. If it comes to that, gold is worthless in a goldmine too. The medium of exchange in a goldmine is the pickaxe."

I love that last line: the medium of exchange in a goldmine is the pickaxe.

Update: this was originally posted from the road, and has now been updated with the images and links I wanted to put in but couldn't due to the many limitations of the E61. Also, I've finished the book now and I don't think it will spoil it for anyone if I mention in passing that it contains a lovely example of the make-work fallacy that will variously delight or horrify the economists amongst you.

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