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The Incredible Intangibles

Economics is a social science and seeks to make decisions about tradeoffs based on quantifiable data.  However, many people who chose to bike over driving believe the greatest benefits are intangible.  Of course, they know they are saving money, getting exercise, and reducing their carbon emissions, but many find the greatest pleasure in the experience—the [...]

Social Benefits

The individual incentives may be the necessary motivation most people, but there are additional benefits for the communities, towns, and societies that we live in as well.  In economics there are principles called externalities—both positive and negative. A positive externality is a decision made by an individual who does not reap the full benefits of [...]