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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    The Impact of an Asteroid

    Mar 6, 10 • 274 Views • No Comments

    From our “Economics is Everywhere” file:  Reviewing 20 years of research, a panel of 41 experts concluded that the asteroid that struck Mexico (at Chicxulub–chick-shoo-loob), 65 million years ago, extinguished the dinosaur...  [read more]

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    Liking the Robber Barons

    Mar 5, 10 • 290 Views • No Comments

    A confession:  I have never disliked the “robber barons.”   Written by Matthew Josephson (1899-1978), The Robber Barons told us how the great nineteenth industrial empires were built.  Emphasizing the misdeeds of Rockefeller,...  [read more]

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    The Banking Pendulum

    Mar 4, 10 • 245 Views • No Comments

    As George Bailey in “It’s a Wonderful Life,” Jimmy Stewart faces a bank run.  On his wedding day, hoping to save his bank, George first gives out the bank’s cash and then his honeymoon money to a long, agitated line of panicked...  [read more]

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    Tipping Points

    Mar 3, 10 • 306 Views • No Comments

    When tipping, we all have a tipping point.  It might sound reasonable to leave a dollar tip.  But, if a Tall Vanilla Latte costs $3.37, is a thirty percent tip too much?  Yes, says one NY Times blogger. On the other side, Starbucks baristas say...  [read more]

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    More Health Care Thoughts

    Mar 2, 10 • 264 Views • No Comments

    Looking at yesterday’s Wall Street Journal editorial article on Indiana’s health care approach, I wondered why no one refers to incentive when assessing alternative legislation. Indiana offers a Health Savings Account (HSA) option to state...  [read more]