A factor of production, labor is necessary for producing goods and services. Econlife looks at labor related issues that include how jobs have changed, wages in the US and internationally and outsourcing and unions and the minimum wage.

  • Cupcakes

    Monopolistic Competition: Cupcakes

    Apr 19, 13 • 1092 Views • No Comments

    The year was 2009, the GDP was sinking and unemployment soared to 10.1%. And yet, cupcakeries were proliferating. Why? And why now, with the economy far healthier and the consumer far happier, are gourmet cupcake sales down? Let’s start in 2009 with one......  [read more]

  • Pizza..16659_5.5_000015914228XSmall

    Pizza Economics: The Life of a Pie

    Apr 17, 13 • 1285 Views • No Comments

    Pizza economics could provide good case study potential for looking at income inequality, a creative workplace, and (from Saturday Night Live) starting a small business. Income Inequality: In Williamsburg Brooklyn, you can buy pizza made by a chef who......  [read more]

  • Cambodia

    An Emerging Market: Cambodia

    Apr 10, 13 • 536 Views • No Comments

    Our story starts in Russia with McDonald’s French Fry problem. Planning to open the first Moscow McDonald’s in 1990, they realized Russian potatoes were too little. Yes, they tasted good. But the fries would be tiny–not like a McDonald’s French......  [read more]

  • lp vinyl

    Creative Destruction: 30 Years of the Music Industry

    Apr 9, 13 • 1186 Views • No Comments

    Does anyone remember LP records? In 1980, the music industry was dominated by LP/EP. With LP standing for long play and EP, extended play vinyl records, both represented almost 60% of the revenue generated by different musical formats. Next? Cassettes at......  [read more]

  • Industries afflicted with Baumol's Disease have slower productivity growth.

    Incentive: The 50th Employee

    Apr 7, 13 • 508 Views • No Comments

    The Affordable Care Act is doing what France has done for years. It has a 50 employee tipping point. The Affordable Care Act says that businesses with 49 employees will not have a health insurance mandate. However, for those with 50 or more, no coverage......  [read more]