This article in the UK cites a study that demonstrates students involved in FB will be distracted to the point of not learning the material for the upcoming test. Subjectively, the users reported it wasn't too much of an issue for them. But objectively, study showed a negative impact.
http://www.dailymail.co.uk/news/article-1309612/Using-Facebook-lower-exam-results-20.html?utm_medium=nl&utm_source=notd&utm_content=2010-09-07-article&utm_campaign=title-h
Scarcity, Opportunity Cost and Competition impact our decision-making moment to moment. This makes economics the basis of life as we know it, after God. Nothing that people value is free, someone pays the cost. To gain that thing of value, scarce resources are given up and cannot be given up again for a different thing of value. And we all are competing to capture those scarce resources.
Tuesday, September 7, 2010
Thursday, September 2, 2010
Exactly WHAT is money?
Currency has a phrase printed on it, "In God We Trust". Because God help us if we stop trusting that money will get us what we want in a transaction. Barter sucks. And we're not on any kind of Gold Standard. In other words, ONLY faith, trust and confidence that our electronic digits in a bank account can allow us to buy what we want keeps it going. NOTHING backs up our US Dollar other than that intangible, ephemeral concept. http://www.theonion.com/articles/us-economy-grinds-to-halt-as-nation-realizes-money,2912/
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