A Class Camping Trip
Forget about monetary policy for a moment or two, and imagine, instead, that you’re back in 6th grade. You and your classmates are about to go on a camping trip, involving some strenuous hiking, and lasting several days.
Somehow, your teacher must see to it that all of you are kept well fed. To do so, she plans to appoint one of you Class Quartermaster. The school’s budget is limited, and rations can get heavy, so there will only be so much food to go around — so many hotdogs, baked beans, scrambled eggs, peanut butter sandwiches, and granola bars. The Quartermaster’s job will be to make sure it all gets divvied-up fairly and efficiently.
The catch is that your classmates are a motley bunch. Pete Smith, the football team captain, is even taller than the teacher, and otherwise built like an old oak tree. His body goes through fuel like a small steam locomotive. Mary Beth Johnson, on the other hand, looks like a gust of wind might carry her off, and eats so little that she doesn’t mind Peter grabbing her grilled cheese sandwich on tomato soup day. The rest generally fall between those two extremes. But just how several days of hiking will affect all their needs is anybody’s guess.
Still the food has got to be rationed somehow. And the class must decide how before a drawing of straws determines who will be Quartermaster. Will it be Jane “Goody Two Shoes” Miller, the teachers’ pet, or Wesley “The Weasel” Jones, who, though never caught red-handed, is widely suspected of cheating on his tests? Or could it — perish the thought! — turn out to be the ravenous Pete Smith himself? Whatever the choice, the class will have to live with it once the straw poll has been taken.
After some discussion, the class decides to vote for one of two options for rationing the food. The first is to simply let the Quartermaster dole out food according to his or her best judgement. That option will allow the limited provisions to be used as efficiently as possible, with Pete Smith getting the bigger helpings he needs, and Mary Beth getting less, assuming that less suffices. The second option is to insist that the Quartermaster give equal rations to everyone, big, small, or in-between. That’s bound to be inefficient, of course. Still, it can easily beat having Wesley or Peter decide!
So, which option will you vote for? If you settle for the first, you favor a “discretionary” rationing policy; if the second, you favor a rationing “rule” over discretion.