Supply and demand explain the impact of the Russian embargo on goods in Russia and on the countries that export items to them like poultry and fish.
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.
When is a Tax Credit Like a Groupon Coupon?
States should use cost benefit analysis more so to assess economic development tax incentives like tax credits that target film and TV producers.
Should Your Boss Require Vacations?
OECD countries mandate that wages and salaries be paid for vacations and sick while, in the U.S., firms decide their own policies.
The Cost of Raising Children
Behavioral economists like Gary Becker say that the family is like a factory where land, labor and capital are combined to “produce” goods like children.
Do You Want a Healthcare Nudge?
Primarily for fiscal reasons, in Japan, most 40-74 year olds get their waist size checked each year. A part of the required annual physical exams from local government or employers, waist size is monitored because an obese population can be expensive.…
A Closer Look at the EU 28 Economic Growth Rate
Looking at a European average economic growth rate, unemployment rate and GDP to debt ratio is misleading because of countries’ disparate economies.
How Music Can Empower You
Like athletes use music before competing, so too can we energize our human capital at work with music that empowers us physiologically and psychologically.
Here's What You Probably Didn't Know About Tipping
Like all minimum wages, the tipping minimum wage theoretically is an economic floor that stops wages from falling to equilibrium and creates job shortages.
Back to the Future… of Air Travel
Although 82% of the U.S. airline industry is dominated by 4 airlines, it is not a typical oligopoly because of new small airlines flying routes that the bigger carriers cut.
What Refrigerators Can Tell Us About Global Markets
In refrigerators in developing nations, we can see the impact of affluence on their diet and on supply and demand that will change worldwide food prices.