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.

  • school...kindergarten..children...16441_7.29_000012930879XSmall

    Preschool Education Matters

    Jun 19, 11 • 400 Views • No Comments

    Did you have to care for a hamster in your preschool class? Line-up? Clean up? Share? According to this NPR Planet Money podcast preschool probably provides irreplaceable job training.  Taking place during a developmental window that does not reappear,......  [read more]

  • 16439_6.18_000007903636XSmall

    The Vitamin Police

    Jun 18, 11 • 389 Views • No Comments

    Most of the corn flakes that we eat in the U.S. are illegal in Denmark because they have vitamin supplements. Consequently, the NY Times tells us that large food companies like Kellogg’s and small stores stocking Marmite, have to undergo an expensive......  [read more]

  • 16434_6.15_000008293441XSmall

    Deja View

    Jun 15, 11 • 457 Views • No Comments

    3 giant redwoods were the problem. The issue was the view. Does a property owner have the legal right to a view of San Francisco Bay that his neighbors’ trees are blocking? Or, do the neighbors have the right to the privacy the trees provide? A view or......  [read more]

  • 16426_4.27_000010774987XSmall

    Irrational Expectations

    Jun 13, 11 • 504 Views • No Comments

    Let’s say that you purchased the house in which you now live during 1997 for the average national price, $171,900. With housing prices steadily rising, by 2006, a neighbor’s house would have sold for as much as $317,000. In the NY Times, Nobel......  [read more]

  • 16428_6.12_000016004445XSmall

    Indicators of Political Unrest

    Jun 12, 11 • 658 Views • No Comments

    Is political upheaval fueled by corruption? Low GDP per person? Less democracy? This Economist interactive indicator lists 9 variables. Together they add up to 100%. But the question for readers is how to weight the variables. Which ones could......  [read more]