I've been hunkered down grading exams this week, so all I've got for you is this tale tail of a developing economy:

Dog Always Brings A Leaf To 'Buy' Himself Treats At The Store

For the last five years or so, the campus of Colombia's Diversified Technical Education Institute of Monterrey Casanare has been home to a sweet black dog named Negro. There, he serves as a guardian of sorts, keeping watch over things as students go about their studies.

In return, Negro is cared for by the school's faculty, who provide him with food, water, attention and a safe place with them to pass the night.

But the dog has apparently decided that anything beyond that is up to him.

Early on in Negro's tenure at the school, he came to be aware of the little store on campus where students gather to buy things on their breaks; sometimes they'd buy him cookies sold there.

This, evidently, is where the dog first learned about commerce — and decided to try it out himself.

"He would go to the store and watch the children give money and receive something in exchange," teacher Angela Garcia Bernal told The Dodo. "Then one day, spontaneous, he appeared with a leaf in his mouth, wagging his tail and letting it be known that he wanted a cookie."

Negro had invented his own currency, but, of course, it was accepted.

He got a cookie — and it came with an epiphany. 

Leaves can buy treats!

As you might expect, after the dog realized his money literally grows on trees, it's been a regular thing.

"He comes for cookies every day," Gladys Barreto, a longtime store attendant, told The Dodo. "He always pays with a leaf. It is his daily purchase."

Still more reliable than Bitcoin.

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Photo of Ann Lipton Ann Lipton

Ann M. Lipton is Tulane Law School’s Michael M. Fleishman Professor in Business Law and Entrepreneurship and an affiliate of Tulane’s Murphy Institute.  An experienced securities and corporate litigator who has handled class actions involving some of the world’s largest companies, she joined …

Ann M. Lipton is Tulane Law School’s Michael M. Fleishman Professor in Business Law and Entrepreneurship and an affiliate of Tulane’s Murphy Institute.  An experienced securities and corporate litigator who has handled class actions involving some of the world’s largest companies, she joined the Tulane Law faculty in 2015 after two years as a visiting assistant professor at Duke University School of Law.

As a scholar, Lipton explores corporate governance, the relationships between corporations and investors, and the role of corporations in society. Read More