View Full Version : Friday Joke, economics.

8th May 2009, 11:44
It is mid August. In a small town on the South Coast of France. Holiday season is in full swing, but it is raining so there is not too much business happening. Everyone is heavily in debt.

Luckily, a rich Russian tourist arrives in the foyer of the small local hotel. He asks for a room and puts a Euro100 note on the reception counter, takes a key and goes to inspect the room located up the stairs on the third floor.

The hotel owner takes the banknote in a hurry and rushes to his butcher to whom he owes E100.

The butcher takes the money and races to his supplier to pay his debt.

The wholesaler rushes to the farmer to pay E100 for pigs he purchased some time ago.

The farmer triumphantly gives the E100 note to a local prostitute who gave him her services on credit.

The prostitute goes quickly to the hotel, as she was owing the hotel for her hourly room use to entertain clients.

At that moment, the rich Russian is coming down to reception and informs the hotel owner that the proposed room is unsatisfactory and takes his E100 back and departs.

There was no profit or income. But everyone no longer has any debt and the small townspeople look optimistically towards their future.


8th May 2009, 12:12
I heard a slightly different version of this when I was a kid at school. In that version the note is handed over originally for "safe keeping", it does the rounds as per your story, then the original owner returns and asks for the note back. He then says that it really didn't matter about keeping it safe 'cos it was a forgery anyway.

Now who do you think got bilked????

8th May 2009, 15:04
Well all I know is Hooker got......

8th May 2009, 17:53
Somewhere along the way, someone got screwed.

Edited to add "it looks like I stepped on racedo's punchline." Sorry chap. Didn't notice it until I came back around.

8th May 2009, 18:50
Somewhere along the way, someone got screwed.

And that is the 'economics' part of the thread:E

Desert Dingo
8th May 2009, 22:12
I see an opening for a political career here - fixing a problem that did not exist in the first place and making everyone feel happy!
But everyone no longer has any debt But overall there was no debt to start with. Each player (apart from the Russian) owed E100 and was owed E100 in turn. It is a zero sum type thing. All that has happened is that each player in the circle received a payment and made a payment, so all debts were extinguished, but all credits were extinguished also.

Shall I run for Treasurer?

Jimmy Macintosh
8th May 2009, 23:23
It's missing the middle man, it should have been the hotel manager gives the errand boy the money to run to the next guy, taking a 2% cut. By the time the middle man has finished he's got a small chunk of change and the Russian tourist is angry that he's been short changed though you can say it's a booking cancellation fee. Still balances, just really lucky that there is a very basic pricing structure across the field and no one charges interest on unpaid bills or late fees.

unstable load
9th May 2009, 01:30
Jimmy Mac,

If Dingo is going for treasurer then I guess that puts you in charge of Government spending.....