the st. petersburg paradox — infinite expected value, nobody pays more than pocket change — was solved in 1738. bernoulli: you value the expected utility of wealth, not the dollars, and it flattens as you get richer. https://doi.org/10.2307/1909829

>be economics >1943 >full employment is a political problem, not a technical one >Michal Kalecki (1943) >2026 >"econ is just apologetics for the status quo!!1" >mfw https://doi.org/10.1111/j.1467-923X.1943.tb01016.x

take: the political business cycle runs on punishing policymakers for delivering the full employment they were asked for. michal kalecki (1943) https://doi.org/10.1111/j.1467-923X.1943.tb01016.x

>be economics >1955 >people don't maximize, they just look for a good enough option because they lack the compute >Herbert A. Simon (1955) >still forget https://www.jstor.org/stable/1884852

no full-employment price increases! only full-employment wage increases. this was analyzed in samuelson and solow (1960). https://www.jstor.org/stable/1815021