The Economics of Seinfeld

GCSU Alumni (Econ minor) Caroline Rentz alerted me and Brandon to this blog that uses Seinfeld episodes to demonstrate concepts of economics: http://www.yadayadayadaecon.com/

Moral Hazard in the NFL

This article provides a good example of moral hazard through the recent issue of concussions in the NFL.

Invisible Victims

Great example of the unintened consequences of government action from Walter Williams.

Economies of Scope

Car/Dog Wash Edition

Incentives

"Most of economics can be summarized in four words: 'people respond to incentives'. The rest is commentary." - Steven Landsburg

Many times the two best words you can hear when you are apartment hunting (especially if you are a broke college student) are "utilities included". I can say from personal experience that it is awesome. People in New York City do too, but having utilities included in the rent may cause some unintended consequences.

Also, I found the quote above here amoung some great quotes about economics and government. Some of those quotes are from my new favorite POTUS.

Supply and Demand-BP Edition

A new story on CNNMoney.com claims that BP stations may soon offer cheaper gas. Basic supply and demand from any ECON 101 class can help us understand why. Some people are boycotting BP gas stations, even though that measure is misguided since the actual gas station owners will be the ones taking the biggest hit from any such campaign. Regardless, sentiments such as a boycott will lower demand. Lower demand leads to lower prices if you hold everything else equal. It is easy to find everyday examples of economic principles.