Baby Come Back

Baby Come Back

Anna Grace Votteler – Period 2 People make mistakes. They make choices that may have been intended to produce a certain outcome, yet throw them down a completely different set of stairs. In Naked Economics, Charles Wheelan paints a picture of how the law of unintended consequences functions, giving inadvertent incentives that are created when … Continue reading

Elections have Consequences

Elections have Consequences

Kennedi Stewart-Honorbound What is an externality? Well according to Charles Wheelan, an externality is “the private costs of my behavior are different from the social costs” [1] or in other words it’s a consequence of a person’s action experienced by unrelated third parties. The unrelated “third parties” are not a part of the initial transaction … Continue reading

Think Before You Speak

Think Before You Speak

Isabel Trevino-Honorbound Life is complicated and unpredictable. Every decision an individual makes has a cost to society, which ultimately makes life better or worse for oneself. Living a better, happier, and less complicated life is centered on the decisions to maximize one’s utility. The author of Naked Economics, Charles Wheelan, said that, “Individuals act to … Continue reading

Economics and the Environment: Costs, Benefits and Our Ecological Footprint

Economics and the Environment: Costs, Benefits and Our Ecological Footprint

Gretchen Maddock – Honorbound Overconsumption of natural resources, as most of us are aware, is an issue America is facing today. We, as a wealthy country, should be able to pay for the “luxury good” of environmental protection. “Americans are willing to spend more money to protect the environment as a fraction of their incomes”, … Continue reading