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 Banking Pendulum

    Mar 4, 10 • 94 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 • 127 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 • 103 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 • 148 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...

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    Notes From Warren Buffett

    Feb 28, 10 • 385 Views • Thinking EconomicallyNo Comments

    Released yesterday, Warren Buffett’s annual letter to shareholders, as always, included sections that make me smile:  Talking about how he uses a consistent standard to assess Berkshire Hathaway’s performance:“That keeps us from the...