“Economics is not about things and tangible material objects; it is about men, their meanings and actions. Goods, commodities, and wealth and all the other notions of conduct are not elements of nature; they are elements of human meaning and conduct. He who wants to deal with them must not look at the external world; he must search for them in the meaning of acting men.”
- Ludwig von Mises, Human Action: A Treatise on Economics
70% of Lawyers who have ever lived are alive today (roughly the same, but even higher for scientists and engineers interestingly enough). – Paul Kedrosky
Is this a reason to be optimistic or sign of a bubble forming?
Parkinson’s Law is the adage first articulated by Cyril Northcote Parkinson as the first sentence of a humorous essay published in The Economist in 1955:
Work expands so as to fill the time available for its completion
In Software:
Software Bloat: Data expands to fill the space available for storage.
Example: Too many to list.
In Academics:
Student syndrome refers to the phenomenon that many people will start to fully apply themselves to a task just at the last possible moment before a deadline
Example: Cramming before a midterm.
In Business:
Expenditures rise to meet income and NO amount of computer automation will reduce the size of a bureaucracy.
Example: Australian Tax Office.
Source: http://en.wikipedia.org/wiki/Parkinson%27s_Law