Varieties of national economy 15 June 2004
…be cheerful, sir. Our revels now are ended. These our actors, As I foretold you, were all spirits, and Are melted into air, into thin air. — The Tempest IV: I, 147
There is a shop near our local park that sells little girls’ ballet dresses. The yellowing models in the window do not speak of a thriving enterprise. When I tell English or American visitors that there are still lots of specialist shops like this in Paris, they invariably ask, “Yes, but do they make money?” Wrong question. The family of the old lady who runs this one is happy to subsidize her – it gets her out of the house; it grants her the company of children; it is what she likes to do; and she may even contribute something towards expenses. It doesn’t matter if she makes a profit or not. (more…)
