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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    Liking the Robber Barons

    Mar 5, 10 • 125 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,...

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    The Banking Pendulum

    Mar 4, 10 • 90 Views • Thinking EconomicallyNo Comments

    As George Bailey in “It’s a Wonderful Life,” Jimmy Stewart faces a bank run.  On his wedding day, hoping to save his bank, George first gives out the bank’s cash and then his honeymoon money to a long, agitated line of panicked...

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    Tipping Points

    Mar 3, 10 • 124 Views • Thinking EconomicallyNo Comments

    When tipping, we all have a tipping point.  It might sound reasonable to leave a dollar tip.  But, if a Tall Vanilla Latte costs $3.37, is a thirty percent tip too much?  Yes, says one NY Times blogger. On the other side, Starbucks baristas say...

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    More Heath Care Thoughts

    Mar 2, 10 • 100 Views • Thinking EconomicallyNo Comments

    Looking at yesterday’s Wall Street Journal editorial article on Indiana’s health care approach, I wondered why no one refers to incentive when assessing alternative legislation. Indiana offers a Health Savings Account (HSA) option to state...

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    Random Health Care Notes

    Mar 1, 10 • 142 Views • Thinking EconomicallyNo Comments

    Last summer, at a Fourth of July picnic, a 75 year old great-grandmother, told by her doctor not to eat a hot dog because of its high sodium content, said, “I’m going to have a hot dog.  If I’m dead in the morning, I’ll never...