Posts Tagged ‘trade offs’

  • Cost and benefit for crime from Gary Becker

    Crime and Punishment in Svalbard

    Jul 11, 14 • 1096 Views • No Comments

    Two times the size of New Jersey, Norway’s Svalbard territory has a single jail cell that was briefly occupied a year ago. Trying to decide why Svalbard has little crime, some cite its sparse population of 3,000 or the fact that it is an archipelago......  [read more]

  • Unintended Consequences of Daylight Saving Time

    Why Should You Care About Time Zones?

    Oct 26, 13 • 992 Views • No Comments

    At 5:30 am in San Francisco, the sun is not up and neither are most people. But, coordinating with NY time, work in the financial district has begun. Offices are active as are local coffee shops. Out of sync with East and West Coast bankers, the rest of......  [read more]

  • Decisions Have An Opportunity Cost That Require Tradeoffs

    Opportunity Cost: A $10 Million Trade-off

    Aug 22, 13 • 1694 Views • No Comments

    NYC’s $69 billion budget is all about trade-offs. With $10 million NYC could buy 9 ladder trucks for its fire department or pay 80 police officers a year. It could also resurface 65 lane-miles of city streets or it could just return $4.47 to each......  [read more]

  • Vintage staircase

    Changing Homes

    Jun 26, 12 • 632 Views • No Comments

    Economically, stairs are costly. When people fall, they stay home from work. Their medical bills climb. Your odds? Author Bill Bryson, in At Home, states that we will probably trip on stairs once in every 2,222 times that we use them, experience a painful......  [read more]

  • Listening to Picasso

    Oct 1, 09 • 624 Views • No Comments

    Pablo Picasso is quoted for (maybe) saying “Bad artists copy. Good artists steal.” Perhaps, when pondering health care reform, Congress should do more “stealing”. Looking at Switzerland’s health care model, we might......  [read more]