Economics explains my love of Macarons
Did you know I was an Economics major in college? I even went on to work at the Board of Governors of the Federal Reserve. I have my photo with Alan Greenspan to prove it. Yes, it was several lifetimes ago. There is an economic principle that often comes to: the scarcity principle. The scarcity principle basically states that the rarer or difficult a product is to obtain, the more valuable it becomes. Not a lot of widgets in the world? Then the price for those available diamonds is high. The scarcity principle explains exactly how I feel about Laduree, the famed Parisian [...]
