Economic Thinkers

Starting with Adam Smith and The Wealth of Nations, continuing to Malthus, Ricardo, Keynes, Hayek, Friedman, Sen and others, the timeless ideas of economic thinkers provide understanding of the contemporary economy.

  • Decisions Have An Opportunity Cost That Require Tradeoffs

    Behavioral Economics: The Best Gifts

    Nov 19, 12 • 480 Views • No Comments

    A gift can be worth much more or less than its price tag. It just depends on whether you are the giver or the receiver. One of the best gifts I have ever gotten was a book of car wash coupons. Happily, I used every one, each time feeling that I had gotten......  [read more]

  • For most economists, historians, social scientists, it is tough to avoid research bias

    Making Presidential History

    Nov 13, 12 • 493 Views • No Comments

    President Obama has been having dinner with historians. Described by the NY Times as a “largely left tilting group,” the names I consistently discovered that attended the dinners were: Doris Kearns Goodwin, Michael Beschloss, Robert Caro, Robert......  [read more]

  • Decisions Have An Opportunity Cost That Require Tradeoffs

    Behavioral Economics: When Do We Minimize Risk?

    Nov 12, 12 • 345 Views • No Comments

    With Election Economics having concluded, for the next 4 weeks, Monday posts will focus on topics that relate to behavioral economics. Let’s start with Hurricane Sandy and my own NJ neighborhood. Really though, we will be looking at how many of us......  [read more]

  • Amazon Prime and Delayed Gratification

    Nov 9, 12 • 484 Views • No Comments

    Would you rather pay $79.00 or $95.88 for the same service? Amazon just figured out how to get the $95.88 from some people. People who sign up for Amazon Prime get “free” (but we know there is no such thing as “free”) 2 day shipping, access to kindle......  [read more]

  • Our Transportation Infrastructure is Crumbling

    A Path for Driverless Cars

    Nov 3, 12 • 749 Views • 2 Comments

    A self-driving car could be a pleasure… The day would begin with a pick-up that you scheduled through your phone app. When your self-driving car arrived at your front door, you would get in, check today’s drive time and start to prepare for your......  [read more]