Category Archives: Society

Trade-offs, fast and slow

(featured image credit: domeckopol) Our biology determines how we make decisions, but we have a secret weapon Economics and biology are not the most obvious bedfellows. Standard economics has a reputation of assuming agents who have access to all relevant … Continue reading

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The trouble with tax

(featured image credit: Archives of Ontario CC BY) Taxation affects the economy, because it affects our behaviour. Is that impossible to avoid? Taxes are generally considered to be an inevitability, as the words of Benjamin Franklin, written in 1789, remind … Continue reading

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The price of attachment

(featured image credit: Les Chatfield CC BY) Value is in the eye of the holder, even more than in the eye of the beholder Something terrible happened to me last weekend. Well, that is what it felt like, anyway. My … Continue reading

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The unequal struggle between facts and conviction

(featured image credit: stevepb/Pixabay) When we argue on the basis of a conviction, we should be seeking to verify our position, rather than to confirm it “When the facts change, I change my mind. What do you do, Sir?” This … Continue reading

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Why are we giving gifts?

(Featured image credit: Peter Dutton CC BY) Lifting the veil over a mysterious custom This is the time of the year when it is obligatory for any piece with even the vaguest reference to Christmas, gifts, or economics to mention … Continue reading

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A new life or an old life?

(featured image credits: Jenny Mealing CC BY and Dr KontogianniIVF) One of the fundamentals of economics is also a fundamental of life. It involves cake and eating. Most people know pretty well what actions are needed to make babies. But … Continue reading

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Our skin in their game

(featured image credit: Pilots of Swiss CC BY) An economic term for the wrongs of the world One Friday, a long time ago, I was fortunate enough to travel in the jump seat on the flight deck of a Boeing … Continue reading

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