[785] Of economics 101: substitute goods

Should I get a Pringles?

Or locally produced Agromas instead?

One thing for sure, both are unhealthy.

p/s – Laffer curve. Though the idea is nothing new, there’s an interesting coincidence (via):

Economist Arthur Laffer made a very interesting supposition: If tax rates are high enough, then cutting taxes might actually generate more revenue for the government, or at least pay for themselves. (In one of life’s great coincidences, he first sketched a graph of this idea on Dick Cheney’s cocktail napkin.)

I know it was sketched on a napkin. But I didn’t know it was Cheney’s napkin.

pp/s – Blind sacked. From Ajax-USA:

A surprise? Not exactly. Ajax officially confirmed today what everybody already knew: the club have decided to replace head-coach Danny Blind, as well as his assistants Ruud Krol and Gerard van der Lem. The reasons: Ajax never competed for the Dutch championship this season and the first team players have not made the desired progress, neither as individuals nor as a collective. Chairman John Jaakke and technical director Martin van Geel commented on the club’s decision at a press conference at the Amsterdam ArenA. They expect that the new Ajax-1 boss can be presented in less than three weeks’ time.

Henk ten Cate, Rijkaard’s man at Barcelona, might be the next person for the Ajax job. Also, from Ajax-USA

“Certain Dutch journalists have actually called my mother to ask her about my future! I find that scandalous. I understand that journalists are supposed to their job, but come on: don’t they have certain values? Leave my mother out of it!”
– Henk ten Cate, who is generally expected to coach Ajax-1 next season, on RTV Noord-Holland.