M&Ms – Tradeoffs Behind Every Choice

Let’s talk economics — not about inflation, interest rates, or stock markets, but about something far more fundamental: scarcity. And to make it fun, let’s think about it in terms of M&Ms.

Unlimited Wants, Limited Resources
Imagine a big bowl of M&Ms — the perfect snack for watching a March Madness game. You love the red ones, but there aren’t many. Do you grab them all now, leaving none for later? Do you share with a friend? Or do you settle for green because there are more of them?

At its core, economics is the study of scarcity. We all have unlimited wants — whether it’s money, time, experiences, or, yes, M&Ms — but the resources to fulfill them are limited. Natural resources like oil, water, and raw materials can run out. Labor, including skilled workers and human capital, is always in demand. Capital, from machinery to technology, must be allocated wisely. And time — the one resource we all have — is never enough.

If everything were unlimited, we’d never have to make choices — and there would be no need for economics at all!

Decisions, Decisions
Every day, we make tradeoffs. Do you buy a new outfit or save for a vacation? Spend time at the gym or go out with friends? Choices aren’t just about money; they also cost time, effort, and sometimes even relationships.

Governments face the same dilemmas — but on a much bigger scale. When tax dollars are limited, funding for one program often means cuts to another.

Mars or Medicine?
This brings us to one of the biggest economic tradeoffs today — let’s call it the M&M dilemma: Mars or Medicine?

Government funding for space programs, such as SpaceX, has so far remained intact. Yet, funding for the National Institutes of Health (NIH) has been cut, leaving studies and clinical trials halted midstream. Critical programs, including Medicaid and veterans’ healthcare services, face the threat of further reductions.

So, what’s the right choice? Should we invest in a future mission to Mars, or should we prioritize medical breakthroughs that could save lives in the next decade? Treatments for Alzheimer’s, ALS, cancer, and other devastating diseases — these are the stakes. These are the choices.

Mars or Marilyn?
I celebrate every new medical breakthrough, hoping that science will unlock treatments for life-threatening diseases like inflammatory breast cancer —the disease that took my amazing sister-in-law, Marilyn.

For me, the M&M choice isn’t just about Mars or medicine; it’s about Marilyn and the many others — Marty, Mia, and millions more — who face serious illnesses every day. For me, the choice is easy — Mars can wait.

But what about you? If you had just a handful of M&Ms left, how would you choose?

Happy reading,

Suzanne Daniels

Enjoy the weekend!

Best,
Suzanne
Suzanne Daniels, Ph.D.
AEPC President
P.O. Box 1416
Birmingham, MI 48012
Office: (248) 792-2187
Email: [email protected]