Economic Way of Thinking

PEOPLE FACE TRADEOFFS Scarcity exists and it doesn’t go away. Because resources are limited, people must make choices. PEOPLE ECONOMIZE People choose the alternatives that they perceive to offer the greatest excess of benefits over costs. ALL CHOICES INVOLVE COSTS The opportunity cost of a choice is the foregone alternative, the (benefits of the) alternative […]

Updated timeline of the most visited websites on the Internet from 1995 to 2023. Two major updates: added more accurate and complete data from 1990s, added m...

U.S. productivity rose at a 4.7% annual clip in the third quarter, the highest since the third quarter of 2020, the government said Thursday.

Question of the Day for teachers and students: How much money do Americans waste on uneaten candy for Halloween?

Airlines and planemakers obsess about reducing jet-fuel consumption by constantly finding new ways to reduce aircraft weight. They may have new allies in Ozempic and other similar slimming medications.

The end of Netflix DVD marks the loss of something even bigger.

An Edinburgh food research team produces a lower-fat alternative aimed at cutting palm oil dependence.

Starbucks has 383 billion unique latte combinations.

There are 29 empty properties per homeless person across the US. Have a look through historical changes and how each US state compares.

A new discovery of lithium this last week led to a flurry of headlines touting the finding as one of the biggest lithium deposits in history. The discovery comes amid fears that a shift towards electric vehicles would exhaust too much of the world’s supply of lithium—an important component in batteries. This raises an interesting question. Why do we never run out of resources when experts say we will?

Why it probz isn’t the best move to go to a town that wants to pay you.

Six people have so far participated in the sustainability campaign this summer, the Telegraph reported.

Deciphering sunk costs and opportunity costs through Disney's to close its costly Star Wars adventure hotel.

U.S. adults who routinely say hello to their neighbors have higher wellbeing than those who greet fewer or no neighbors.

Diners, who organized via Reddit, are demanding transparency

Thinking on the margin is one of the most fundamental concepts in economics–and a valuable everyday tool for making optimal decisions. For such an important ...

“Most of the stadium public finance research, including mine, has focused on construction subsidies, but this is a good reminder that they are only part of the welfare programs for billionaires lavished on sports team owners.”

“ngl it's hard to go back to a single screen once you've used a quad monitor setup”

If you don't already have a ticket to one of Taylor Swift's Eras Tour performances in Seattle this weekend, you may be out of luck. Do this instead.

160 years young… and still kickin’. Clinics promising to lengthen life for a growing number of wealthy clients are popping up across America....

Nearly four years have passed since Tulsa Remote began promising $10,000 to workers who’d relocate to the Oklahoma city for at least one year. Here’s where that program and similar efforts stand today.

Here are some states that are willing to pay you to move there, as long as you meet certain requirements.

"The reality is, if you can't hit 40,000 donors by middle of August, you have zero chance of beating Joe Biden in an election."

North Dakota Gov. Doug Burgum is offering $20 gift cards to people who donate at least $1 to his presidential campaign. Entrepreneur Vivek Ramaswamy has promised grassroots fundraisers a 10% cut of the money they bring into his campaign. Other candidates are just pleading for $1 donations or offering campaign swag at a steep discount.

Boston Mayor Michelle Wu is offering hefty tax breaks to companies to turn offices into housing, the latest example of a city seeking to address the challenges of remote work hitting downtowns and a lack of affordable residences.

The Autocado created by Chipotle and Vebu Labs could cut the prep time for the burrito chain's guacamole in half.

Join us as we change the future of work! The 4 Day Week is a reduced-hour working model, which seeks to prioritise working smarter to produce better productivity in less time.

New Tesla facility in Buffalo was supposed to house a huge solar-panel operation, but the project hasn’t turned out as planned.