The economists who think about paying taxes tell us that there are so many different reasons that people do and do not comply.…
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.
How a Street Corner Reveals the Real Recovery
While COVID-19 had a massive impact on consumer spending, “street corner” real time data reveal some surprises.…
The Great Lid Shortage of 2020
Perhaps unnoticed because of its lesser impact on our lives, the pandemic lockdowns created the great lid shortage of 2020.…
Where LEGO is More Than a Toy
Instead of spending hours or even days constructing a multi-thousand piece set, many thousnads of people prefer investing in LEGOs.…
Is it Okay to Go Cashless During a Pandemic?
While cities, states, and countries have many more cashless transactions because of the pandemic, there is a downside.…
The Gasoline Taxes That Are Hit by Covid-19
Rarely mentioned, the revenue generated by gasoline taxes in the U.S. and Europe has been affected by the coronavirus pandemic.…
What Our Labor Day Cookout Might Be Missing
Hit by less supply and more demand, our Labor Day cookouts will suffer from hot dog shortages and higher prices.…
Does a Calorie Label Make Us Eat Less?
While the purpose of restaurant calorie labels has been to provide diners with more information, it did not work out entirely as expected.…
Why We Should Worry About Our Bananas
Because our banana supply could be obliterated, we will have to adjust to a replacement that might taste somewhat different.…
When the Good Life Is About More Than Happiness
Although psychologists have expanded the definition of the good life, still, the same economic policies relate to sustaining it.…