How To Think Like An Economist Analysis

In pondering what I could write these economic stories about, I referred to text in the book “How to Think Like an Economist”, with in this book Mr. Arnold had a great revelation that caught my attention. That of the question “can there ever be too little of a bad thing?” (Arnold, 2005), this tidbit of information got me to think just in everyday life, is it possible to want what to monopolize happiness so much that the bad in life can destroy you. In reflecting upon various life situations and relationships I found that the influences of economic principles where everywhere and in order to monopolize life you have to notice the principles and theories.
This thought further lead to me pondering life and all that it has to offer. In doing

so, I had to ask myself a key question, can good behavior be outweighed by bad interaction in your pursuit to happiness? In pondering this question, I noticed several economic factors within this theory. The foremost economic observation was that of the demand that satisfaction requires, is the problematic factor in the consumption of your good behaviors over things that one receives. To remain happy one must surround themselves with an abundant supply of those things that they deem necessary for their happiness. This can be as simple as plenty to drink or as complicated as a single desire. Either way the resource has to be available, plentiful and obtainable in a manner that is constantly available to the individual. In maintaining theses pleasures an individual must be willing to sacrifice the pleasure of other things, thus the entrance of bad, to benefit from that behavior or vice that equates to their happiness. This, to me, is a direct reflection of opportunity cost.
To better identify the impact of opportunity cost, I have applied it to my everyday life. The life situation that I can closely relate this too is the pleasure I get when I work alone. I own a home maintenance business, I must work with the public on a day to day bases. My job entails that I understand what a customer wants and produce that outcome in the most efficient and cost effective manner possible. Each job has its own level of demands and often times requires the need for more than one worker. Within my work cycle, I am more in touch with my craft when I am alone. I am better focused and more grounded in the technique, skill, and desired outcome when I am alone. Hence, my level of difficult when the commodity of comfort and solitude is broken when I obtain jobs that require more than one worker. This conflicting behavior with the demand of my alone time, often effects my opportunity cost directly. By not being able to work alone the job tends to take more time than if I had worked alone. Which in turn, effects my motivation factor for the job, the pay. Since, life requires money and that cannot be received until the completion of the job. My happiness is then compromised via so that I can earn a living and maintain my lifestyle. Thus, proving that to maintain happiness you must lose the availability of your demand to balance out the core happiness that you want to possess.
Economic influences appears everywhere throughout life, it just has to be known. My daily battle with time and opportunity is one of the biggest economic inflections that I can think of. The scarcity of time within a day is a constant problematic resource for me. I like to be punctual for everything from a job to a date. However, when those around me arrive late, still are not ready when I am and not available when they say they will be I am livid. I think that the opportunities that are lost within the time span that I wait on other will never be given back. Therefore, I tend to not depend on others by reducing the need for them. If I need a specific resource that I must obtain from someone else and they are not available when and where they told me to be. I provide a 5 minute grace period, then I leave and go and purchase that particular resource. Normal by not allowing them to waste what I consider valuable time, I lose revenue. This economic waste is definitely a setback, my girlfriend calls it useless junk that I deserved to have since I act like things do not occur in people’s lives. I normally argue back about the scarcity of time that I have. All in all they still are late and I have just learned to set aside resources for useless items that I may have to buy.
Not to mention the economic influences of monopolistic competition that your children demonstration a daily basis.

There constant need and want to obtain complete control of your financial and emotional facets. Children have this wonderful form of persuasion, they use your love and admiration for them as a too maintain your resource even when there is a scarcity. Which often times proves successful, no matter how old they get. Your first instant is to ensure that they are safe and happy at all cost, however these cost can often be your demise. A prime example of their persuasion ability is when something new comes out and they want it. The power of advertising and imagery draws them in and in turn you are drawn in. Whether it is a pair of the latest tennis shoes, toys, video games, or just food they set their minds on it they are relentless in obtaining it. From their point of view and the facade that we display, our parental capital is abundant, or maybe we have resources on trees in our backyards. No matter what they do or the task that we have them to do to receive resources or revenue they still believe and know that our hearts will not see them disappointed. As a compromise with my children I offer then jobs that they can do around the home that will allow them to get resources or revenue for the items that they want. In offering this compromise the demands that once occurred everyday has reduced to a biweekly or a monthly occurrences. Although it is still a battle of the wills there is still nothing that I will not do for any of my children, therefore they have almost monopolized my life with the main task of keeping them content and helping them achieve their goals and

ambitions.
There are an overwhelming amount of economic influences throughout life that you see on a day to day basis. The key is being able to understand and recognize them, as I read the textbook I realized the daily impact that economics had on my life as a whole. The textbook made economics more of a common occurrences than that of a complicated issue that we must confront.