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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    Euro Matters

    Mar 9, 10 • 121 Views • Thinking EconomicallyNo Comments

    Said to have been one of the least-prepared countries to transition to euro cash, Greece was an original participant in the euro launch on January 1, 2002.  In the first major euro robbery, in Athens, a gunman ran off with 76,000 euros...

  • Taxing Issues

    Mar 8, 10 • 119 Views • Thinking EconomicallyNo Comments

    How much should government spread the wealth?  In a recent speech, Harvard economics professor Gregory Mankiw gives an answer by focusing on two issues. The first issue involves the facts:  Beginning with a Warren Buffett story, Dr. Mankiw then...

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    The Economic Significance of BRIs

    Mar 7, 10 • 87 Views • Thinking EconomicallyNo Comments

    When slicing a bagel, most people use a knife.  Others prefer the bagel guillotine or the Brooklyn Bagel Slicer.  With annual sales near 80,000, the bagel guillotine has been described as “history’s most successful bagel-controlling...

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    The Impact of an Asteroid

    Mar 6, 10 • 112 Views • Thinking EconomicallyNo Comments

    From our “Economics is Everywhere” file:  Reviewing 20 years of research, a panel of 41 experts concluded that the asteroid that struck Mexico (at Chicxulub–chick-shoo-loob), 65 million years ago, extinguished the dinosaur...

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    Liking the Robber Barons

    Mar 5, 10 • 130 Views • Thinking EconomicallyNo Comments

    A confession:  I have never disliked the “robber barons.”   Written by Matthew Josephson (1899-1978), The Robber Barons told us how the great nineteenth industrial empires were built.  Emphasizing the misdeeds of Rockefeller,...