The one-hoss Shay

I’m not writing articles, because my computer is in the shop.

In grad school, the course I came closest to failing was Growth Theory, taught by Avinash Dixit. I remember only that he pronounced it “Groat Teary” and that he liked talking about the one-hoss Shay.

With smooth depreciation, a capital good depreciates gradually. The one-hoss Shay stays like new until it all of a sudden goes kaput. My laptop battery obeyed the one-hoss Shay pattern. So until my computer comes back I just have my phone, which isn’t good for writing articles.