Posts Tagged ‘opportunity cost’

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    Looking Back at a Decision

    Mar 26, 11 • 339 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 • 285 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]

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    A Budget Question

    Mar 14, 11 • 331 Views • No Comments

    Thought to have saved many lives, a Japanese early warning system sent a media alert seconds before the earthquake struck.  The system took 12 years to implement and cost close to $500 million. A similar warning system for the U.S. west coast is being......  [read more]

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    Giving Life a Price

    Feb 19, 11 • 378 Views • No Comments

    The people at OSHA (Occupational Safety and Health Administration) have been watching “Spider-Man.” Because of actors’ injuries during performances, the federal agency that monitors workplace safety went to Broadway. Should they? It is all......  [read more]

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    Military Business

    Feb 5, 11 • 354 Views • No Comments

    Choosing between “guns and butter” (or missiles and margarine), national leaders think of the military for guns and the private sector for “butter.” Not Egypt, though. As far back as the 1970s, when peace with Israel meant less to do......  [read more]