While the North Korean economy is centrally planned, the Choco Pie is a tiny example of the how a market system develops.…
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.
Why Tomatoes Require Tradeoffs
About much more than sauces and salads, tomato tradeoffs take us to science and supermarkets, history and trade agreements.…
The Lid on the Pot Industry
While states find it’s tough to predict marijuana tax revenue, they can assume that higher rates will nudge consumers toward black markets.…
How to Create a CEO
Firstborn children are more likely to become CEOs, politicians, and top managers because of the way their parents treated them.…
Why Women in Movies Matter
Looking at women in movies, we form behavioral expectations about gender roles that relate to leadership, to speech, and to age.…
Why a Lifetime Pasta Pass is About More Than Spaghetti
The unlimited pasta that Olive Garden’s Never Ending Pasta Pass winners consume reflects a massive change in marginal utility.…
The Surprising Reason That We Love Our Pumpkin Spice Lattes
An economist can explain the surprising reason that we eagerly anticipate the yearly launch of Pumpkin Spice Latte from Dunkin’ and Starbucks.…
The Mystery of the Missing Money
Starting with Madonna’s unclaimed money and forgotten savings bonds, we wind up with a map that ranks state fiscal health.…
How Tariffs Target Women
Looking at the retail tilt of the newest round of Trump administration tariffs, we would see that woman will be hit harder than men.…
The Downside of Vegan Leather
With meat demand going up and leather demand going down, the cowhide industry has a devastating supply and a demand problem.…