Households

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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    When Will China and India Catch Up?

    Dec 17, 10 • 289 Views • No Comments

    In one wonderful 4 minute animated video, Swedish professor Hans Rosling shows us how, during 200 years, 200 countries became healthier and wealthier. The turning point for one group of nations is 1810 with the industrial revolution. The next turning point,...  [read more]

  • Like the 3 Bears, the Middle Class is Not too Rich Not too...

    Are You Middle Class?

    Dec 16, 10 • 280 Views • No Comments

    What is the “middle class?” In a recent NPR interview, a painting contractor, an employee of Healthy Montana Kids, a man who runs a hi-tech robotic firm, and a hospice worker, all earning between $25,000 and $100,000 annually, said they were...  [read more]

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    Gas Prices

    Dec 11, 10 • 286 Views • No Comments

    Have you been paying more for gas? Looking at this map, you can see that gas prices around the country have been rising in most places. Economist James Hamilton suggests that the price of gas is directly connected to the GDP. Citing the BEA breakdown of...  [read more]

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    State Finance

    Dec 6, 10 • 281 Views • No Comments

    Which state postponed a pension fund payment of $3.1 billion because of big budget problems and had a 2.4% decrease in its real GDP? (Still though, this state has the second highest median income.) The answer? New Jersey. New Jersey, though, is not alone. Jon...  [read more]

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    Giving and Getting Gifts

    Nov 29, 10 • 307 Views • No Comments

    With the holiday season beginning, we should consider the economics of gift giving. Let’s start with University of Pennsylvania Professor Joel Waldfogel who focused on receiving gifts. Then, through Duke’s Dan Ariely, we can look at how to give...  [read more]