Economic Ideas

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 these economic ideas, which serve as the foundation of economics and help people make decisions personally, professionally and as voters.

The Electric Vehicle Switch

Seeing your new EV, you might find it difficult to imagine the huge changes that an electric vehicle switch required in the factory.

How Covid Changed World Energy Consumption

Ranging from oil to wind and solar, the supply and demand sides of world energy consumption responded to Covid-19 with some surprises.

My Book of the Month: Why An Address Matters

Looking at “The Address Book What Street Addresses Reveal About Identity, Race, Wealth, and Power,” we can see how addresses matter.

Why Metrics Can Be Misleading

We can wind up with misleading metrics when the number we use as a goal becomes the incentive that distorts output decisions.

What Central Banks Could Do To Our Cash

As more nations experiment with central bank digital currencies, we could see less cash, fewer banks, and maybe some unintended consequences.

Why Taxes Are About More Than Money

Because tax systems matter, we can look at tax evasion in the U.K., at IRS problems in the U.S., and at the OECD to see what works.

Where Money Is Not What We Expect It To Be

Asked about the meaning of money, we might be surprised to see a circular chunk of limestone compared to a U.S. dollar bill.

How Covid Changed Commuting Time

In its 2021 Urban Mobility Report, Texas A&M tells us how and where Covid vastly changed our commuting time and our traffic congestion.

Why We Tip

Looking back and looking ahead at our tipping behavior, we can expect tips to remain a social norm that will increase.

Why Baseball Umpires Are Like Wine Tasters

Whether looking a the strikes called by an umpire or the scores from wine tasters, we would see inconsistent decisions that are called noisy.