Thinking Economically

Much more than money, economics is about tradeoffs. Thinking economically involves cost and benefit, marginal analysis and seeing that there is no free lunch. Econlife tries to convey the perspective that is the foundation of economics that helps people make decisions personally, professionally and as voters.

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    Egg Surprises

    Apr 24, 11 • 444 Views • No Comments

    Egg prices are actually down. Averaging $1.73 a dozen during March, egg prices have fallen by 5% from March a year ago. So, yes, the CPI says the increase for food prices is up 2.7% during the past 12 months (March 2010-March 2011). But not for eggs. We could......  [read more]

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    Green Elasticity

    Apr 23, 11 • 577 Views • No Comments

    Sales of Nature’s Source Scrubbing Bubbles tub have plunged by 61%. At Stop & Shop, “Eco-friendly” people are switching from Clorox Green Works All-Purpose Cleaner to traditional Fantastic. Why? Because Fantastic is 40 cents cheaper.......  [read more]

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    Federal Spending Questions

    Apr 21, 11 • 395 Views • No Comments

    Hearing the following, one Washington Post reporter said, “Four pinocchios.” In a February survey of 801 “likely” voters, a majority (63%) said that the biggest budget items were defense and foreign aid. Also, they suggested......  [read more]

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    Who Does the Housework?

    Apr 19, 11 • 383 Views • No Comments

    Who makes dinner in your home? Walks the dog? Goes to the supermarket? A study from the Organization for Economic Cooperation and Development (OECD) compared unpaid work in 29 countries. Predictably, they concluded that women do a lot more than men. But,......  [read more]

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    Chinese Marriage Markets

    Apr 17, 11 • 415 Views • No Comments

    A typical young Chinese woman is looking for a husband who owns a home. Probably, she will find one because China’s single child policy and tendency toward male preference have resulted in massive gender imbalance. With so many more marriageable men......  [read more]