In a circular flow model, households are the source of consumption expenditures and land, labor and capital for businesses. Econlife looks at all of the activities of households that include spending, taxes, education, health care and income.

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    The Power of the Market: Part 2

    Jul 28, 11 • 396 Views • No Comments

    World oil demand has hit a new high. But not from everyone. Called the “New World” and “Old World” by economist Ed Yardeni, you can see through his graphs, the divide in world oil demand. China, India, Brazil and other emerging......  [read more]

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    Children and Wealth

    Jul 24, 11 • 530 Views • No Comments

    More wealth seems to mean fewer children. Look at a graph of fertility in the U.S from 1800-1990. The birth line plunges. Consider India, China, South Korea, Singapore. As per capita GDP rises, births plummet. See this gapminder graph for rich countries and......  [read more]

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    Vaccine Dilemmas

    Jul 22, 11 • 523 Views • No Comments

    Let’s try to make one federal budget decision. Who should receive the meningococcal vaccine? Debating the issue, we should be sure to remember pharmaceutical companies, the vaccine’s recipients, the cost of each shot, who gets the disease, the......  [read more]

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    Finding Food Deserts

    Jul 18, 11 • 544 Views • No Comments

    Having just learned that the US Department of Agriculture (USDA) has a food desert website, I am not sure how we should respond. The USDA tells us that in a food desert most low-income households have limited access to a supermarket or grocery store. In the......  [read more]

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    Debt Ceiling 101

    Jul 15, 11 • 520 Views • No Comments

    During the month of August, if the U.S. hits its debt ceiling of $14.3 trillion and the Congress says, “No, you cannot borrow anymore,” then what will happen? During August, the U.S. will have $172B (billion) in federal revenues and $307B in......  [read more]