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.

  • The Impact of the Vammas

    Feb 17, 10 • 84 Views • Thinking EconomicallyNo Comments

    What is 68 feet long, has a giant blade in front for plowing, massive sweeper brushes in the middle, and a 452 MPH wind blowing capacity in the rear? A Vammas. Imported from Finland, the Vammas is used by Logan Airport for snow removal. A caravan of ten...

  • The Ethical Economy

    Feb 16, 10 • 98 Views • Thinking EconomicallyNo Comments

    During a recent discussion at Trinity Church (near the NYSE) Susan Lee, an economist, and The Archbishop of Canterbury spoke. Both sought a better society. Both wanted a wealthier society. Then though, they diverged. Summing up each one’s perspective,...

  • A Fourth Monetary Policy Tool

    Feb 15, 10 • 123 Views • Thinking EconomicallyNo Comments

    The chasm between economics textbooks and real life has grown larger. It is just tough to keep up. Looking at monetary policy, the most typical tool used by the Federal Reserve takes students so very logically to the Federal Open Market Committee (FOMC). If...

  • 15474_2.14_000007210772XSmall

    Recycling Garbage

    Feb 14, 10 • 114 Views • Thinking EconomicallyNo Comments

    A recent article in SF Gate focused on Berkeley’s garbage problems. Because of Berkeley’s commitment to recycling, the revenue it receives from garbage collection has dropped precitously. Less garbage means more job and service cuts. If people...

  • The Debate Between Equality and Efficiency

    Feb 13, 10 • 79 Views • Thinking EconomicallyNo Comments

    Speaking about the current political climate in “The Populism Problem”, James Surowiecki, New Yorker columnist, cites our contradictions: • Solve unemployment but cut the deficit • Implement health care reform but limit government •...