Sunday 21 July 2019

Confusing Abstraction and reality.


I wince every time I hear someone say something like 'hot temperature' or 'expensive prices'

I suspect there's a name for such confusions, but I can't recall it. Perhaps some reader of this blog will enlighten me.

There is one context in which there's case for calling a price expensive. People who trade in financial futures buy or sell the right to trade in stocks or commodities at a certain price. If the cost of a particular option seems rather high, one might say' that's an expensive price', but so far as I know futures traders never do say that.

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