Greg sets us straight about economics, price inelasticity, and the real world - here. Excerpt here:
"I'm not educated in economics, so I know a little about it. If I was educated, I'd know about an economics education. Not the same thing. I learned what I know about economics by getting the treatment a baby gives a diaper every day out in the economic landscape. You're not allowed to indulge in fantasy very long out here. You can do it for a lifetime in a college..."