Posts Tagged ‘opportunity cost’

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    Food or Energy?

    Apr 11, 11 • 361 Views • No Comments

    Biofuels create dilemmas. Whenever nations mandate converting corn or sugar into biofuel, their prices soar. People whose diets depend on these commodities are the first to suffer. What to do? Lower food prices or increase energy conservation? China’s...  [read more]

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    PC Benefits

    Apr 6, 11 • 341 Views • No Comments

    We know that the computer has really made a difference. It replaced typewriters, photo albums, calculators and maybe even travel agents. But still, can we precisely state its impact? Yes, $1700. Economists have calculated that each year since 1977, on...  [read more]

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    Savers or Borrowers?

    Apr 5, 11 • 475 Views • No Comments

    In 1987, a $100 savings account would have earned close to $9 in interest. In 2005, $3.75 or so. Now, maybe 47 cents? The WSJ, had a good article describing how savers are suffering. The retirees who expected to depend on interest income until they died have...  [read more]

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    Looking Back at a Decision

    Mar 26, 11 • 329 Views • No Comments

    Testifying in 1978, one public official said that economists, citing cost and benefit, recommended using a lower level of levee protection against hurricanes in Louisiana than he thought was necessary. (p. 90 of the Congressional Report on Hurricane Katrina)...  [read more]

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    The Opportunity Cost of Presidential Relaxation

    Mar 23, 11 • 281 Views • No Comments

    Talking about presidential relaxation, financial historian John Steele Gordon reminds us that not so long ago, a President could have been unreachable. When the financial panic of 1907 struck, because Theodore Roosevelt was off hunting bears in the Louisiana...  [read more]