Tag: costs
When to walk away: Overcoming the sunk cost fallacy
March 4, 2017 | Post
If there is a single aspect of the economic way of thinking that I struggle to put into practice, it’s the idea of letting go of my sunk costs.
Why Sessions is sailing and DeVos is struggling
February 7, 2017 | Post
Trump’s cabinet appointments and the opposition to them reveals some important lessons for the role of interest group dynamics in the political process and its relationship to furthering a free and responsible society.
Making college “free” will only make it more expensive.
January 3, 2017 | Post
Making higher education free of charge won’t make it free to provide.
The supply curve explained — with cookies
December 23, 2016 | Post
At what price would you hand over your homemade Christmas cookies?
Bureaucracy buries the human spirit with paperwork
December 18, 2016 | Post
The following words represent the generally acknowledged mindset of a bureaucrat: “Rules are rules, fella. I don’t make ‘em. I just enforce ‘em.”
What happens when you raise the minimum wage?
November 13, 2016 | Post
California’s minimum wage is set to rise to $15 an hour by 2022.
One economist’s final words before being devoured by zombies
October 31, 2016 | Post
The final moments of an economist amidst a horde of zombies.
How Americans Can Use Economic Principles to Fight Terrorism
October 3, 2016 | Post
As professor Anne Bradley shows in this piece, the economic way of thinking can help us prepare for and respond to acts terrorism.
What Economists Mean When They Say People Act "Rationally"
September 23, 2016 | Post
Limits to the homo economicus version of rationality are also limits to the explanatory power of some aspects of introductory-level economics. They do not, however, compromise the case for laissez-faire. If anything, they strengthen it.
The Obamacare Horror Stories Aren’t Slowing Down
September 11, 2016 | Post
Without young, healthy individuals buying insurance and thereby paying into the system, the government is finding itself saddled with the responsibility for supporting the healthcare of the older, sicker population.
On Demand Program of the Week: The Price is Right
February 8, 2016 | Post
Why does your iPhone cost $200.00? Why is the price of gas so volatile? What gives Uber the right to enact “surge pricing”? It’s easy to think of prices and profit as symbols of greed and corporate power, but prices are really just bits of compressed information that save you time and effort! What do […]
Featured On Demand Program of the Week: America's Health Care System
January 25, 2016 | Post
If you follow the news, you’ve probably seen plenty of coverage on ObamaCare or the Affordable Care Act. Even if you don’t follow the news, it’s hard to go for more than a few days without hearing someone mention their insurance premiums, high cost of care, or some other frustration with health care. All the […]