Labor

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.

  • The Panama Canal Project Facilitates World Trade.

    The Panama Canal and an Invisible Line

    Dec 12, 12 • 654 Views • No Comments

    When a desk destined for Ohio leaves China on a super-sized container ship, should it enter the US in LA or NY? The Panama Canal could determine the answer. Imagine a jagged north south line dividing the US. Located somewhere between the East and West Coast,......  [read more]

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    Homework? It’s About the Economy…

    Dec 11, 12 • 402 Views • No Comments

    Why would France want to ban homework? President Hollande has said that less homework means more equality. At home, income makes a difference. Higher income families have children with higher test scores and more help with homework. They have their own......  [read more]

  • Is It Better to Outsource or Insource T-shirts?

    Manufacturing Matters in the US

    Dec 10, 12 • 504 Views • No Comments

    Hearing about an apparel firm that “insourced,” I confess I was not as enthusiastic as the report. The firm, American Giant, had just enjoyed a run on their hoodies. As a Made in the USA producer, they have the caché of a San Francisco factory.......  [read more]

  • NYC Taxicabs, Tips and Credit Cards

    Taxi Tips

    Dec 8, 12 • 640 Views • No Comments

    Assume you are in a NYC taxi cab. The fare is $12.00. How much of a tip do you leave? a. $1 b. $2 c. $3 d. $4   Actually, it all depends on whether you use cash or credit. People who pay in cash tend to leave a 10% tip. Those who use a [&hellip......  [read more]

  • The History of the Elevator is About Innovation and Economic Growth

    Elevator Economics

    Dec 6, 12 • 954 Views • No Comments

    Where would we be without the elevator? To deliver a bed, sometimes you need an elevator. It is easy now…but not during the mid-19th century. When a bed company mechanic, Elisha Graves Otis, was asked to create a freight elevator, he knew he had to......  [read more]