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Pastimes : Austrian Economics, a lens on everyday reality

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To: Wildstar who wrote (133)	9/28/2002 2:14:10 PM
From: Don Lloyd	Read Replies (1) of 445

Wildstar, An Austrian economic puzzle - Gus and Sam are identical twins and artistic craftsmen. Gus is exclusively a goldsmith and Sam is exclusively a silversmith. Gus has $10,000 in cash and $10,000 worth of gold inventory that he intends to use to make gifts for friends and family. Sam also has $10,000 in cash and $10,000 worth of silver inventory that he intends to use to make gifts for friends and family. If Gus and Sam then agree to exchange $5,000 worth of gold for $5,000 worth of silver, what is the likely economic effect, if any? Regards, Don

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