econlife on ‘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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    The Ant or the Grasshopper?

    May 27, 10 • 98 Views • Government, International Trade and Finance, Thinking EconomicallyNo Comments

    “What a silly little ant you are,” said the grasshopper in The Ant and the Grasshopper. “Forget about work…Enjoy the summer!” But all day, everyday, grain by grain, the ant continued to gather and store her wheat. When...

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    More Water Dilemmas

    May 26, 10 • 164 Views • Economic Debates, Environment, Government, Thinking EconomicallyNo Comments

    Bottled water has been around for a long time. Bottled Perrier was introduced in 1863 while people first drank a bottled Poland Spring product 13 years later. With bottled water consumption having increased until the recent economic contraction,...

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    No Free Lunch

    May 24, 10 • 91 Views • Thinking EconomicallyNo Comments

    In NYC, new pedestrian plazas are easing harried city life. Sitting in the middle of a once busy street where traffic congregated, now, you can relax at a table, drink some coffee and enjoy a sandwich. The only problem is the opportunity cost. Pedestrian...

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    Choosing Means Refusing

    May 11, 10 • 115 Views • Economic Debates, Government, Thinking EconomicallyNo Comments

    In yesterday’s Washington Post, Robert Samuelson reminded us that most developed nations will have a growing proportion of senior citizens. Comparing 2005 and 2030, for Greece, the 65 and older group will increase from 18% to 25%, for Spain, from 17% to...

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    Entrepreneur Incubators

    May 4, 10 • 104 Views • Businesses, Economic History, Innovation, Thinking EconomicallyNo Comments

    Which words do you associate with “entrepreneur”? Risk taker? Ambitious?Creative? Smart? Energized? Henry Ford? Steve Jobs? Clarence Birdseye? The words and names convey a recipe for success. And yet, according to a recent FT article from Tim...