Economics is the study of how we use our scarce resources — like time and money — to achieve our goals. At the core of economics is the idea that “there is no free lunch” because we “can’t have it all ...

Scarcity is a pervasive condition of human existence. Everyday circumstances of limited resources (money and time) can make individuals experience a sense of scarcity. Scarcity functions like an ...

Personal growth is universally celebrated. We encourage people to pursue education, seek professional development, and advance in their endeavors. We applaud entrepreneurs who take risks, innovate, ...

I was once advised never to give advice. Perhaps I am just not a good listener. Economists like me are regularly asked for advice, such as how to invest, start a business or vote. But that’s not ...