From Cambridge to Eternity: “Life is Home”
Mr. Robinson is the economy all by himself in Crusoe Island. As a result, life is at the same time home and in the macro-economy. Economics. He has no opportunity whatsoever to engage in trade which needs two sides, the credit and the debit. Consequentially, “the market” is down with “trade after specialization.” Nevertheless, he is rational enough always and everywhere to mind efficiency, or “economy” if we will. On one hand, the time (read: the period, never the point) is his currency. On the other hand in Island, there is no alternative in accounting for efficiency to measuring his utility acquired per hora (M ∙ U ∙ T -1 in dimensions). In the economy or as for individual economy: Principle 1 . Time and space are limited . Principle 2 . Nothing utile comes for free. ...