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.

  • Blanket Competition

    Feb 12, 10 • 122 Views • Thinking EconomicallyNo Comments

    Hearing that American Airlines was charging eight dollars for a blanket and pillow brought back memories of airline deregulation, Eastern Airlines, and People Express. Does anyone remember the Eastern Shuttle? With a government given monopoly on flights...

  • Random Snow Stories

    Feb 11, 10 • 104 Views • Thinking EconomicallyNo Comments

    Property rights When you shovel a parking space, does it remain yours when you pull out? In Boston, if you shovel out your car during a snow emergency, the space is yours for at least two days. Just “reserve” it with a lawn chair or trash...

  • Not Always Dismal

    Feb 10, 10 • 114 Views • Thinking EconomicallyNo Comments

    From assorted sources, I share the following: 1. Poetry on the housing crisis from Karl Case (the Case in Case-Shiller Home Price Index) An excerpt: Fannie and Fred were always ahead, Then Countrywide got in the fray. Then Lehman and Merrill and Goldman Sachs...

  • PIIGS at the Trough

    Feb 9, 10 • 111 Views • Thinking EconomicallyNo Comments

    Debt can be complicated. 1.National borrowing is good. It leads to growth and recovery. In 1792, Alexander Hamilton said that a national debt could be a blessing. In 1936, John Maynard Keynes said that debt was good. Each realized that using someone else...

  • Silent Salons

    Feb 8, 10 • 112 Views • Thinking EconomicallyNo Comments

    The Spanish Society of Authors (SGAE) receives a steady stream of income from Spain...