Where Enron Learned Economics

A truck driver moved to Texas and bought a donkey from an old farmer for $100. The farmer agreed to deliver the donkey the next day. The next day the farmer drove up and said, "Sorry, but I have some bad news. The donkey died."

"Well, then, just give me my money back."

"Can't do that. I went and spent it already."

"OK, then. Just unload the donkey."

"What ya gonna do with him?"

"I'm going to raffle him off."

"You can't raffle off a dead donkey!"

"Sure I can. Watch me. I just won't tell anybody he's dead."

A month later the farmer met up with the truck driver and asked, "What happened with that dead donkey?"

"I raffled him off. I sold 500 tickets at two dollars apiece and I made a profit of $898."

"Didn't anyone complain?"

"Sure, but just the guy who won. So I gave him back his two dollars."