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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    Demand, Supply, and Knee Replacement

    Nov 15, 10 • 276 Views • No Comments

    Hearing about knee replacement surgery from a friend, I soon realized it is about much more than an operation. It involves demand, supply, innovation, and the quality and cost of national medical care. First the facts: For knee replacement surgery, patients...  [read more]

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    A Big VAT

    Nov 14, 10 • 267 Views • No Comments

    Dating back to the 18th century, the Chinese vase that a brother and sister found “in a dusty attic” sold for $69.5 million at a London auction. The NY Times called it a “treasure-in-the-attic” story. For us economists, it is a VAT...  [read more]

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    QE2: Pros and Cons

    Nov 8, 10 • 498 Views • No Comments

    Reminding us that there is no such thing as a free lunch, The Washington Post has an excellent interactive summary of the pros and cons of a QE2 impact. But first…what is QE2? Through a second round of quantitative easing, the Federal Reserve will...  [read more]

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    Dogs, Coach, and Cars

    Oct 28, 10 • 230 Views • No Comments

    When you have extra income, what do you buy? In China, the more affluent consumer is buying dogs, Coach handbags, and cars. Banned in Beijing in 1983, only recently, the dog has returned as a new “best friend.” A stress reliever, a response to...  [read more]

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    Random Notes From Recent News

    Oct 19, 10 • 217 Views • No Comments

    1. Among the U.N.’s 8 millennium goals for 2015, sustaining aging populations was not included. Why? 2. You might want to decide with whom you agree: WSJ‘s Daniel Henninger saying that “Capitalism Saved the Miners” or The Huffington...  [read more]