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.

  • 16609_3.1_000005787159XSmall

    Healthcare and Baumol’s Disease

    Sep 11, 11 • 726 Views • 1 Comment

    Asked why healthcare is relatively expensive while cell phones are not, you could answer, “Baumol’s Disease.” Described by New Yorker columnist James Surowiecki, to play Mozart’s String Quartet in G minor in 1787 and now, we need 2......  [read more]

  • 16607_9.10_000005262499XSmall-1

    What’s Cheap? What’s Expensive?

    Sep 10, 11 • 820 Views • 5 Comments

    Starting with, “…eating and clothing ourselves is getting easier all the time,” an Atlantic article discusses “cheap” and “expensive.” Relatively cheap: computers media toasters, washing machines, other manufactured......  [read more]

  • The Congress and the Fiscal Cliff

    Is Government the Solution or the Problem?

    Sep 9, 11 • 638 Views • No Comments

    Maybe everyone got something from President Obama’s jobs plan. According to the Washington Post’s Ezra Klein, the “right” got tax cuts, the “left” got help for the unemployed and infrastructure spending, and everyone will......  [read more]

  • 16586_4.2_000010186118XSmall

    Looking at Labor

    Sep 5, 11 • 627 Views • No Comments

    What if a physical trait meant you will earn $230,000 less during a lifetime?   According to one study, a person who was in the bottom one-seventh for looks earned 10% to 15% less than people who were in the top one-third. In a NY Times column, a......  [read more]

  • 16596_6.30_000005521931XSmall

    Government Failure or Market Failure?

    Sep 4, 11 • 604 Views • No Comments

    The illness? High unemployment and sluggish growth. The patient? The U.S. economy. And sometimes, according to Nobel Laureate Gary Becker, a stimulus pill just won’t work. In a WSJ opinion piece, Dr. Becker first explains that government misdiagnosed......  [read more]