Your Parents Must Love You

In a classic example of marginal thinking, cost/benefit analysis, and opportunity cost data has been recently released revealing a surprising increase in time dedicated to child care during the 1990s. It's interesting for two reasons: first it reversed a trend began in the 1960s of shrinking time parents were dedicating to the rearing of their children and secondly, it occurred in a decade when the value of labor was increasing dramatically. The data seems to indicate that college educated adults were willing to sacrifice their income generating hours at an accelerated pace precisely at the point in which they were most valuable. Click on the link above to access the reason for this lunacy and reflect on the balance of work and parenting during your own childhood.

Calls to tax junk food gain ground -- South Florida Sun-Sentinel.com

Calls to tax junk food gain ground -- South Florida Sun-Sentinel.com

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As the battle over health care rages on, more people are focusing on consumer behavior and personal choice as a culprit behind escalating costs. There are many people who believe that if junk food consumption was reduced so would the pressures on our health system. Sin taxes on cigarettes have been a successful tool in discouraging smoking, could taxes on sugary sodas and snacks be a disincentive to consume. Opponents to this idea cite that excise taxes are regressive and would place additional pressures on the finances of low-income citizens. In addition, the difficult economy has led people to seek cheaper food sources which are often times the type of product targeted by this tax. Click on the link above and weigh in on this issue which seems to be gaining momentum.

Prescription Drugs And TV Ads

If you traveled here from another planet and studied our culture from watching television on any given night you might suspect that we are a nation of hypochondriacs. The ubiquity of pharmaceutical ads can be interpreted as both humorous and troubling. Concerns exist because these advertisements have proven to be very fruitful and chances are very good that if you simply ask your doctor about a new product, he'll produce a prescription for it. The U.S. and New Zealand are the only two nations that allow for this advertising and there are voices now being raised over the dependency they seem to develop. Click on the link above to read the concerns of a prominent physician on this issue.

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Mexico decriminalizes small-scale drug possession

Mexico decriminalizes small-scale drug possession

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In the midst of by all accounts a devastating drug war in Mexico, the decision by the government to decriminalize possession of small quantities of all drugs may seem strange. But the additional problem of a corrupt police force shaking down detained small time suspects has authorities believing that this is a reasonable approach. Separating casual users and addicts from the hard core commercial traffickers should allow for a renewed focus on the most serious of the many problems, theoretically. Click on the link above to learn more about this unique response and consider whether this policy would work in the U.S.

What Happens In Vegas Apparently Doesn't Stay In Vegas

What a difference a year makes. Once touted as the fastest growing and most dynamic city in the country, Las Vegas is now mired in a devastating recession. The unemployment rate has doubled in a year and the city is feeling the effects of putting all of its fortunes on one industry. Gaming business is off dramatically and the construction boom associated with its development has come to a complete halt. The results are being felt all over Nevada but not as strongly in the more diversified economies of other cities. Only Michigan and Rhode Island have higher statewide jobless rates. The boom to bust scenario has the city fathers rethinking their gamble on one roll of the dice. Click on the link above to read further and consider the parallels that exist with Florida.

The Rich Ain't So Rich Anymore

The trend over the last thirty years has been an ever increasing disparity between the haves of America and the have-nots. The super rich of this country had been enjoying an uninterrupted explosion of their personal wealth while incomes in the middle have flat lined. Now, the good times seem to have come to end. The recent contraction in our economy has hit the "rarifieds" hard and magnificent fortunes have been decimated. It is hard to believe that recovery will be quick to arrive, though you'll hear little sympathy from the working man who has struggled to keep his head above water for decades. Click on the link above to read more about this turn of events and the calamity it's caused in that echelon.

Deprivation Is The Key To Happiness

All week long we have been talking about how Economics is the business of life. We are the product of our choices and a sound decision-making strategy is essential. In the din of distraction that we live in, it has become difficult to define opportunity cost as the enticement of short-term gain tests ability to reason. Self-discipline would have served many of the over-extended victims of our economy's collapse well. In the ashes of the devastation, your generation can sow a few lessons assuring the mistakes won't be repeated. It has never been more essential for young people to begin saving for their future, but in a society that celebrates consumption it is difficult. Click on the link above to learn more about the importance of delayed gratification and the rewards of patience.

Mickey Mouse Moves To Philadelphia?

By the year 2050, a growing number of climatologists believe that climate change will fundamentally alter the seasonal patterns and the economies of many northern cities. Philadelphia might seem more like Orlando from it's more equatorial temperatures. The impact could wreak havoc with local economies as it transforms energy needs and impacts the health of the citizens. The amount of snowfall and the severity of summer weather events could have a strong repercussions on recreation businesses and their revenues. Click on the link above and the embedded links in the reading to learn more.

Raising a Child Costs Some $221,000, Before College

Raising a Child Costs Some $221,000, Before College