Posts Tagged ‘opportunity cost’

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    The Future of Oil

    Nov 8, 11 • 232 Views • No Comments

    When will we run out of oil? A room full of pistachios might have the answer. In the first several pages of The Invisible Heart: An Economic Romance, a teacher says you have been given a room filled 5 feet high with pistachio nuts. The nuts are free, you are...  [read more]

  • Industries afflicted with Baumol's Disease have slower productivity growth.

    Babies and the Elderly

    Oct 24, 11 • 291 Views • No Comments

    The beginning of life and the end of life are becoming more expensive. The number of premature babies in the U.S. has soared by 36% during the past 25 years. Caused partially by twins, triplets, (and more) from older mothers and by advances in...  [read more]

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    The Blackberry Disruption

    Oct 18, 11 • 215 Views • No Comments

    Last week’s Blackberry blackout saved lives. In Dubai, traffic accidents dipped 20%. For Abu Dhabi, the decrease was 40%. Considering that there is approximately 1 traffic accident every 3 minutes in Dubai and a traffic fatality every 2 days in Abu...  [read more]

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    A First For Denmark

    Oct 4, 11 • 246 Views • No Comments

    Denmark just became the first country in the world to have a fat food tax. That means butter, milk, pizza, any food with more than 2.3% saturated fat content is more expensive. To be precise, for every 2.2 pounds (one kilogram), the tax is $2.90 (16 kroner)....  [read more]

  • Decisions Have An Opportunity Cost That Require Tradeoffs

    A Conservation Dilemma

    Sep 21, 11 • 229 Views • No Comments

    Should the Dunes Sagebrush Lizard (aka the Sand Dune Lizard), a 3-inch striped reptile, be listed under the Endangered Species Act? Here is the problem. The home of the Sand Dune Lizard is also the home of the Permian Basin which, according to Forbes,...  [read more]