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By Artis Shepherd
One of the problems in presenting economic concepts to a public audience is that too many people in the academic world do not comprehend the simple presence of opportunity cost.
No day this reality doesn't hurt my brain.
Some people here haves a very hard time understanding the presence of more than one currency. My dad is no dumb person, yet he is uncapable to grasp the notion of currency conversion when it comes to more than 2 currencies: here we have the Peso, the Dollar, and now Bitcoin. For all purposes, the dollar price is always measured in Pesos, and Bitcoin price is always measured in dollars. Everyone does that (my dad included), even if not understanding what's all about. The thing is that my dad is up to this day, regardless of the basic math implied and my down-to-earth explanations, uncapable to understand the pesos<->dollar<->bitcoin bridge conversion. pesos<->dollar? ok dollar<->bitcoin? ok pesos<->dollar<->bitcoin? quantum field theory When the dollar here rises in pesos but bitcoin remains constant in dollars, he always complains that he should have bought dollars instead of bitcoin. I explain to him the basic conversion, he says "ok", then complains back again later. He has no limitation to understand that whatsoever, economy is just so alien to people that even before being difficult to comprehend, they don't even grasp it.
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