The Economics Of...
The Economics Of… is a special 8-part series exploring common conundrums of 21st-century life and work through the lens of economics. The series is available both in essay form and in the What Works podcast.
1. The Economics of Big (and Small) Decisions
To Quit or Not To Quit Social Media: Opportunity Cost Can Help You Decide
To quit or not to quit social media—that is the question. Is it nobler to suffer the fear of missing out on internet fame (and the middling fortune that might come with it)? Or to take up some half-baked “strategy” and, by posting, end it? How do you
2. The Economics of Information and Care
Why Care Work is Critical to the Value of Information
Imagine that I had a set of instructions for making $1 million. My instructions fit on a single sheet of paper. Font size 12. Double-spaced. No funny business. Follow every step to the letter, and a million bucks would be yours. What would you be willing to pay for access to that document? $1000? $10,000? $100,000? More? After all, even if you spent $500,…
3. The Economics of Work Relationships
Working Together: What Economics Can Teach Us About How Work Relationships Get Weird
Relationships are critical to our ability to do remarkable work. Even if you’re a hermit like me, the people who collaborate with you, inspire you, and support you are indispensable. That said, relationships are a source of stress, too—especially when it comes to work.
4. The Economics of Cash Flow
Go With The Flow: How Tracking Cash Flow Can Transform Your Business for the Better
It takes money to start a business. Money can come in the form of a loan, a credit card, a savings account, or even pre-orders. Or, time and sweat equity become a proxy for money until there’s enough cold hard cash to invest in growth. It also takes money to
5. The Economics of Paying Attention
The Economics of Getting (and Paying) Attention: Putting the Audience to Work
Attention is a scarce (and precious) resource. A gargantuan number of media outlets, advertisers, influencers, and brands vie for our attention every day. In turn, many of us (including me) are out there trying to attract attention, too. We want people to pay attention to our posts, our offers, or our perspective. At the same time, the changing nature of…
6. The Economics of Getting Attention
The Strange Logic of Value in the Attention Economy
Did you know that 54% of 18-38-year-olds want to be influencers? Or that kids these days would rather be “influencers” or “YouTubers” than firefighters, astronauts, or teachers? Okay, Boomer. Calm down. The “troubling trend” of all our kids putting themselves on the path to internet stardom as employment has been greatly overblown. That 54% of Gen Zers a…
7. The Economics of Ideas
How Does An Idea Turn Into An Asset?
What makes an idea valuable? What turns it into a product that can be bought, sold, or rented? Ideas turn into capital assets thanks to our system of intellectual property rights. But understanding IP isn’t simply a matter of learning what a trademark or patent is, and then learning how to leverage it to create wealth. To truly understand intellectual p…
8. The Economics of Meeting Your Needs
The Economics of Meeting Your Needs
We all have deep human needs—for belonging, for autonomy, for creative expression, for safety and security. But modern life can make it a real challenge to get those needs met in meaningful ways. Instead, we’re offered products with flashy marketing messages. Kitchen gadgets, social media platforms, clothing, personal care products, and many others offe…