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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    Venezuela’s Price Controls

    Apr 22, 12 • 982 Views • No Comments

    Reading that a Venezuelan retiree did not mind the food lines, I started thinking about how President Chavez’s price controls have changed incentives. The retiree, who has more time than money, now has the incentive to stand in line. Meanwhile, a......  [read more]

  • The Surprising Glass Ceiling in Sweden and France

    Female Human Capital

    Apr 20, 12 • 648 Views • No Comments

    To one group of economists, oral contraception is all about human capital. 1970 appears to have been a turning point. 40 years ago, increasingly, women started entering law school, medical school and other professional programs after college. Instead of......  [read more]

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    Coke’s “‘Delicious! Refreshing! Exhilarating!’” Marketing Strategy

    Apr 18, 12 • 2624 Views • No Comments

    By Mira Korber, guest blogger. Imagine Coca-Cola for a moment. Polar Bears, Santa Claus, a time when soda still came in refillable glass bottles…perhaps, for the health-conscious, high fructose corn syrup? And if you live in Singapore, you might even......  [read more]

  • Decisions Have An Opportunity Cost That Require Tradeoffs

    Free or Fair Government?

    Apr 16, 12 • 576 Views • No Comments

    I live in a town where I have to pay for garbage pick-up and recycling or I can dispose of it myself. The fire department is voluntary. Because there is no local high school, the town pays other school districts to educate our teenagers. In our town,......  [read more]

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    Standing In Line

    Apr 15, 12 • 1039 Views • No Comments

    Walking along 56th Street in NYC, maybe a half block before 5th Avenue, I always see people on line. (New Yorkers say on line. Almost everyone else says in line.) They are waiting to enter Abercrombie & Fitch. Usually we associate an economic cost with a......  [read more]