Plain Sense Economics

Today, in a setting entirely removed from my economics class, I used the phrase, “there’s no such thing as a free lunch.” Someone called me on it, and – full confession – I was sloppy in invoking it. That said, the rest of the challenge got me to thinking about the phrase and its application.
Milton [...]

…with apologies to Barbara Mandrell

I’m going to post this link to a column by The New York Times‘ David Brooks – about the field of economics, so its points are not forgotten. It’s an important view of our discipline, and my colleague Ric Holt argues that he and several others have been making this point for many years now. [...]

An old economist joke. This version courtesy of this link:
Three men went off on a sailboat together, a physicist, a chemist, and an economist. Unfortunately they ran into a storm and the boat was wrecked on an uninhabited island. The only food they were able to rescue from the wreckage was a case of baked [...]