The price of a haircut in Dakar challenges a tenet of economics
A trendy trim in Senegal can cost more than a snip in Paris. How odd
Economics often seems oversupplied with theory—all dogmatic assumptions and curves with obscure names. Yet economics students in the rich world can get surprisingly practical advice from wild-haired professors explaining non-tradable goods: “When in poor countries, get a haircut.”
This article appeared in the Middle East & Africa section of the print edition under the headline “Cutting costs”
From the June 18th 2022 edition
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