Economics is not simply about money. Rather, economics helps explain personal decisions and social coordination.  It focuses on two things, information and incentives. Here is an economic perspective on the most common New Year’s resolution, to become fit and lose weight. There is overwhelming and ever increasing information that regular and moderately serious physical exercise, […]

Unfortunately, it is a true, empirical, universal, statistical generalization that organizations are run mainly for the benefit of those who head them. Those who lead them make decisions based on two things, information and incentives. This is true for EPA, Volkswagen, the U. S. Park Service, and Montana State University. Conflicts arise between the ideals […]