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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    Irrational Expectations

    Jun 13, 11 • 603 Views • No Comments

    Let’s say that you purchased the house in which you now live during 1997 for the average national price, $171,900. With housing prices steadily rising, by 2006, a neighbor’s house would have sold for as much as $317,000. In the NY Times, Nobel......  [read more]

  • Beer and pretzels.

    Beer: An Economic Indicator

    Jun 6, 11 • 1427 Views • 1 Comment

    There appears to be a correlation between beer drinking and economic growth…up to a point. According to a paper from the American Association of Wine Economists (yes, really) the connection is an upside down “U.” As individual incomes......  [read more]

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    Unemployment Insight

    Jun 3, 11 • 405 Views • No Comments

    Would you like to see job winners, job losers, recession and recovery across the country? These interactive graphics are perfect. Here, you can see “jobs gained” and “jobs lost” across the U.S. in 100 metropolitan areas. As you move a......  [read more]

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    Housing Prices in the U.S. and Abroad

    Jun 2, 11 • 452 Views • No Comments

    We have a double dip in U.S. housing prices. But, is it happening everywhere? A Goldman Sachs research report from mid-May provided an OECD (Organization for Economic Cooperation and Development) summary. The most troubled: Struggling euro zone countries......  [read more]

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    Old and Young States

    May 31, 11 • 497 Views • No Comments

    Maine is an old state. At 42.7, the median age of Maine’s population is the highest in the U.S. The youngest state is Utah (large families and many children), with a median age of 29.2. Other “young states” include Texas and Alaska. And,......  [read more]