The economic side of Australia’s fire ant invasion includes accepting the massive eradication opportunity cost.
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 Chocolate Is An Elasticity Story
All about the inadequate supply of cocoa beans, the price of chocolate has shot upward while consumer price elasticity expanded.
How Housing Markets Have Downsized
Recovering after the Great Recession, housing markets expanded until they had to shrink in an unexpected way.
Where the 4-Day Workweek Works
Although momentum seems to be moving us toward the 4-day workweek, and recent studies support the shift, still, there are problems.
Preparing Land, Labor, and Capital For Mars
Preparing for a trip to Mars, although most of us assume a technology focus, we are leavng out a crucial consideration.
Why Solar Time Matters
When we “spring ahead” by an hour because of daylight saving time, solar time will offset the impact of the switch.
The Small Stories That Add Up To Big Red Sea Disruptions
To really grasp the impact of the trade disruption in the Red Sea, we need to move from the big numbers to tea.
The Economic Side of Our Geologic Timeline
Looking at the massive expanse of the earth’s geologic time scale, scientists are debating how to include recent human activity.
6 Facts About College Degrees
While college degrees tend to boost our income, a closer look reveals details that take us to the major, the school, and the geography.
What Would You Pay To Save An Hour?
The value of time becomes very real when we decide how much money we are willing to spend to use less of it.