Texas and Ohio call the tomato their state fruit. But in New Jersey, it’s the state vegetable. Where are we going? To why people care about what we call a tomato. A Supreme Court Decision Becaus…
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 iPod, Starbucks, and Richard Thaler’s Behavioral Economics
Discussing the iPod he designed, Tony Fadell expressed his frustration with products that said “charge before use.” He remembered arriving home excited about a newly purchased gadget. But …
Deciding Who Is Middle Class and Who Is Rich
According to President Trump and most other politicians, tax reform will be “a middle class bill.” However, ask people what they mean by the middle class and it becomes a mystery. In one C…
Why the Panama Canal is Bigger and Better
Enabling the newest massive container ships to travel to the East Coast, the Panama Canal expansion changed the world’s transportation infrastructure.…
The Power of Saudi Female Drivers
By royal decree, a Saudi woman can drive by June 24, 2018. But she still might need permission from her husband to buy a car. Narrowing the Saudi gender gap will be complicated. The Saudi Gender Gap F…
The Story of a Nudge and the Nobel Economics Prize
For his public policy nudges and his contributions to behavioral economics, Richard Thaler will get the 2017 Nobel Memorial Prize in Economics.…
All You Never Knew About Sleep and Work
In Japan, you could be admired for taking a daytime snooze at work. Called inemuri, “sleeping while present,” lets you attend a meeting while displaying your diligence through your exhaust…
The Washing Machine Trade War
My LG washing machine was more expensive than it should have been. The reason takes us to washing machine dumping and tariffs. The Washing Machine Wars My Korean-made washing machine (and others like …
The Best Places to Grow Old
Looking at adequacy, sustainability, and integrity, we would see that the retirement income systems of 27 nations vary considerably.…
Why We Like Trix and Chips
When General Mills switched to an all natural Trix, the response was not quite what they expected. One mom said, “My kids find the color of the new Trix cereal quite depressing.” Another Trix lover co…