Sugar Ray Robinson in 1989. In 2006 he was featured on a commemorative stamp by the United States Postal Service. Robinson was born Walker Smith Jr. in Ailey, Georgia, to Walker Smith Sr. and Leila Hurst. Robinson was the youngest of three children; his eldest sister Marie was born in 1917 and his other sister Evelyn was born in 1919. His father was a cotton, peanut, and corn farmer in Georgia, who moved the family to Detroit where he initially found work in construction. According to Robinson, Smith Sr. later worked two jobs to support his family—cement mixer and sewer worker. "He had
Robinson Crusoe economy is that an efficient allocation of resources is achievable. In other words, no economic agent can be made better off without making another economic agent worse off. Let's assume that there is another commodity that Crusoe can produce apart from coconuts, for example, fish. Now, Robinson has to decide how much time to spare for both activities, i.e. how many coconuts to gather and how many fish to hunt. The locus of the various combinations of fish and coconuts that he can produce from devoting different amounts of time to each activity is known as the production possibilities set. This