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.

  • Changing Air Travel Routes

    Oct 18, 12 • 509 Views • No Comments

    The marketplace affects where we can and cannot fly. If you need to travel between Lima, Peru and Atlanta, you can thank asparagus lovers. More than passenger traffic, Delta values the route because of its asparagus cargo. (While China is by far the......  [read more]

  • Decisions Have An Opportunity Cost That Require Tradeoffs

    Nobel Matchmakers

    Oct 17, 12 • 602 Views • No Comments

    One of the first calls a new Nobel Prize winner might get is from Adam Smith, editor of NobelPrize.org. As you might expect, hearing his name, people initially wonder if the call is for real. Usually Mr. Smith does a quick interview and sometimes, if the......  [read more]

  • Obama/Biden and Romney/Ryan Issues

    Election Economics: Too Much or Not Enough Stimulus Spending?

    Oct 15, 12 • 556 Views • No Comments

    For the first quarter of 2009, GDP declined at a 5.5% rate and, at 7.6% during January, unemployment was rising. With the economy in a tailspin, policy makers wanted to act quickly. Primarily split along party lines, the Congress responded with the $825......  [read more]

  • Human capital helps GDP Grow

    The Supreme Court, Starbucks and Human Capital

    Oct 12, 12 • 357 Views • No Comments

    Saying affirmative action was the reason she was rejected from the University of Texas, Abigail Fisher sued. The University responded that it was okay for race to be a part of their admissions process. And Starbucks, Wal-Mart and 55 other prominent US......  [read more]

  • Video Game Economics

    Oct 10, 12 • 532 Views • No Comments

    Sometimes a virtual world can show us some economic reality. Here is the story: There once was a Greek economist who, for many years, happily wrote papers and taught classes, in (he said) his “academic cocoon.” However, as the euro-zone calamity......  [read more]