I remember my first car accident vividly. I was making a left hand turn out of the parking lot and didn’t come to a complete stop. I was already turning when I saw the blue F-150 driving straight towards me. I stepped on my brakes. Too late. My body jolted forward as the F-150 hit my little black car. Sitting in the front seat, I tried to contain the rising panic, my hands shaking. What would my parents think? If only I had waited just half a second longer…
Animal spirits are involved in a whole lot of our decision making. The famous economist, John Maynard Keynes knew this all along. Continue reading “Animal Spirits Peer Pressurin’ Keynes”
Last year, when I was in the horrible, awful process of moving, I had an assortment of unwanted textbooks, clothes, and furniture that combined was worth over $1,000. I faced two options. I could take pictures of all my items and upload them to eBay or Craiglist or even Facebook Marketplace to sell them for what they were worth. Or I could sell my textbooks to my friend who was taking the same class in the fall at a heavily discounted rate. My pockets would not be as full, but I would be helping out a fellow classmate. Faced with these two options, I texted my friend and sold my textbooks to her. Combined with a couple other sales, I walked away from my unwanted things for a grand total of little more than $200. Continue reading “What I Didn’t Know About Adam Smith”
We are all experts of some kind. I know this sounds like fortune cookie philosophy, but it’s founded on an important economic insight: local knowledge. Continue reading “Failure in Flavortown: What you know that Guy Fieri doesn’t”
We know it’s the middle of March when the rambunctious sports fanatic perks up and invites everyone in the office to “fill out their bracket” and put some money on it.This can only mean one thing– March Madness is here! In the doldrums of winter, I always appreciate the burst of energy that comes along with some friendly competition as week-by-week one person’s bracket rises above the rest. Continue reading “March Madness and Oskar Lange”
Looking back at our lives, it is easy to point out the pivotal choices that determine where we are today. These decision-pebbles create ripples in the outcome-ponds of our lives. Often, we harp on the seemingly mundane decision that caused a traumatic event. “Had I just picked up the phone, I could have prevented X from happening!” or “Gosh, had I just chosen to go my usual way home, I wouldn’t have totaled my car!” It seems as if that one decision put our whole lives off balance. Continue reading “Your Life Is In Disequilibrium”
Team USA didn’t win gold medals at the Olympics. Team USA didn’t participate in figure skating, luge, curling, or half pipe. Before you stop reading, let me explain.
Chloe Kim, a snowboarder from California, won gold in the half pipe through her dedication, hard work, and talent. She also won us over with her Twitter feed. The Shibutani twins competed in ice dancing and won bronze for their stellar choreography and coordination. All of the athletes earned a spot to compete under one flag and to win rare, circular stones on a string through their dedication and action.