An entertaining exercise came from a friend. It is credited to Dr. David R. Kamerschen. I am reproducing the same after adapting it to Indian Currency.Bar Stool EconomicsSuppose ten men go out every day for beer and the bill for all ten comes to Rs.1000.If they paid their bill the way we pay our taxes, it would go something like this:The first four men (The poorest) would pay nothing.The fifth would pay Rs.10.The sixth would pay Rs.30.The seventh would pay Rs.70.The eighth would pay Rs.120.The ninth would pay Rs.180.The tenth man (the richest)...
