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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    A One-Handed Economist?

    Mar 20, 10 • 111 Views • Economic History, Financial Markets, Innovation, Regulation, Thinking EconomicallyNo Comments

    Let’s not look at CDOs, SIVs, ARMs, TIPs or ATMs. Nor do we need specifically to consider credit default swaps, securitization, hedge funds or venture capital. Instead, we can go to the question that Robert Litan asks at the end of his 47 page Brookings...

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    New Financial Products

    Mar 19, 10 • 100 Views • Financial Markets, Innovation, Thinking EconomicallyNo Comments

    Instead of a garage or a laboratory, think of an office or a conference room. And, rather than a computer or an aircast, imagine a junk bond or a bank account.  All of these products, at one time were invented.   In a recent Brookings article,...

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    Ricardo and China

    Mar 18, 10 • 104 Views • Developing Economies, Economic Thinkers, International Trade and Finance, Thinking EconomicallyNo Comments

    What happens when you build an airport and nobody uses it?  China has an answer. Although China faces underutilization as it develops its transportation infrastructure in the air, by rail and roads,  it seems to be continuing. China’s...

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    Mandate Broccoli?

    Mar 17, 10 • 114 Views • Businesses, Demand, Supply, and Markets, Government, Thinking EconomicallyNo Comments

    What if there was a miracle food that helped fight colds, prevent cancer, heart disease, and cataracts, and fostered healthy bones? According to several non-medical web sites, there is one. It’s broccoli. And what if another...

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    Unintended Consequences

    Mar 15, 10 • 105 Views • Regulation, Thinking EconomicallyNo Comments

    New rules might not always have the results regulators expect.  Starting on April 29, any airplane that sits on the tarmac for longer than 3 hours will be fined up to $27,500 per passenger.  For a Boeing 737, that could mean $4 million. ...