Calming the everyday monetary chaos created by Venezuela’s hyperinflation is about much more than lopping zeros off its currency.…
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.
An Economics Lesson From an Ant
Not only providing a lesson that relates to building nest tunnels, ant economics can also teach us about diminishing returns to scale.…
Why Urban Farmers Plant Their Crops in Garages
Using old containers from cargo ships, commercial urban farmers are growing hydroponic mini-lettuces and even strawberries in warehouses and garages.…
Why Driving is Safer in Sweden
An economist might say that the optimal number of traffic fatalities depends on the cost of preventing them. Sweden disagrees. Compared to most other countries, Sweden’s road safety is tops: In …
The Jobs That Women Don’t Do
One of the original Rosie the Riveters was just in the news. Now 98 years old, Elinor Otto visited the San Diego aircraft plant where she first picked up her riveting gun during World War II. At the D…
Disrupting the Movie Industry
With many of us rarely going to a theater, we can see why movie attendance is down and the chance for industry disruption is up.…
Upsetting Uber’s Economics
Legislation from the New York City Council will upset Uber economics when it limits the number of new ride-hailing vehicle licenses.…
Why We Want a Starbucks Pumpkin Spice Latte
The reason that we cannot resist limited edition drinks like a Starbucks Pumpkin Spice Latte is diminishing marginal utility.…
Six More Facts We Need To Know About Social Security
Although Social Security solvency has not been in the headlines, it remains a massive challenge that we need to understand.…
(Almost) All You Need To Know About Quotas
From sleeveless jackets to begging brides and young sports teams with no uniforms, the complexities of quotas can produce a slew of unpredictable results.…