Summary: The Indicator’s first “Beigie” Award of the year (best entry into the Fed’s Beige book) goes to the Atlanta Fed! The Sixth District described that firms are reverting back to “just-in-time” inventory management from the “just-in-case” approach they were taking when facing uncertain supply chains. The accompanying numerical exercise links inventory with opportunity costs.
Doctors Trzeciak and Mazzarelli talk about the compassion crisis in our healthcare system. In their book titled Compassionomics: The Revolutionary Scientific Evidence that Caring Makes A Difference, the doctors explain when healthcare workers show a little compassion it can decrease costs, improve medical outcomes, and even help with physician burnout.
At the American Economic Association annual conference, some of the brightest economists answer the question, “What is the most useful idea in economics?”. Answers range from the idea of opportunity cost to thinking at the margin.
Original Air Date: January 10 2020
Length: 21 minutes 1 second
Discussion Prompt: What do you believe is this most useful idea in economics and why?
Written Prompt: Develop your own list of your top ten (or top 5) ‘most useful ideas’ in economics. Be sure to explain WHY you’ve made your selections. You may use up to 3 of those referenced in the podcast, with your own explanations! The rest must be your idea.
Summary: What would a liberal economist say about the state of America’s economy today? THE INDICATOR discusses how the country’s economy may need some form of stimulus to boost further economic growth. However, would the benefits of the short run stimulus for the economy that we say we need, outweigh the cost of the long-term tax cuts?
Summary: Love isn’t a word you would normally associate with Economics. Applying the principles of Economics to your relationships seems preposterous. But is it? Planet Money discusses how economics are beneficial to your love life and can help you save on the one cost of love: time.
Link: 
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