economics Archives

food for thought thursday–the price of goods

How much does something cost? Obvious question, right? After all, the answer is right there on the price ticket. But cost involves more than the dollar value of an item. The money that we hand over in exchange for goods represents a complex network of costs involved in producing, selling (and buying) a product. As [...]

food for thought thursday–jevons paradox

Increased energy efficiency is often touted as a solution to our environmental problems. The more energy efficient our contraptions are (like cars and light bulbs), and the less non-renewable resources we use, the better off the environment, right? Jevons argues no. In 1865, the economist William Stanley Jevons observed that despite improvements in technology and [...]

a man drove into town – a story of modern economics

I read this on Frugal For Life (an American frugal blog) and thought it noteworthy and amusing enough to share. Head on over and have a read of Dawn’s blog, it’s well worth the visit. It’s a slow day in a little Lancashire town. The sun is beating down, and the streets are deserted. Times [...]