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.

  • Tax Revenue

    Do You Agree With French Taxes?

    Aug 9, 12 • 438 Views • No Comments

    Talking about taxes, economists like to quote Louis XIV’s finance minister: “The art of taxation consists of so plucking the goose as to obtain the largest amount of feathers with the least possible amount of hissing.” We have been hearing a......  [read more]

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

    Cheesecake Medicine?

    Aug 7, 12 • 356 Views • No Comments

    Could Cheesecake Factory help us fix our healthcare system? Touring the kitchen of a Cheesecake Factory restaurant, you would see arrival, refrigeration and storage areas, and cutting, mixing, chopping and combining zones. Preparing the 308 dinner choices......  [read more]

  • Obama/Biden and Romney/Ryan Issues

    Election Economics: Assessing Unemployment

    Aug 6, 12 • 339 Views • No Comments

    Let’s look first at unemployment and then at the candidates. 1. Defining unemployment: Our unemployment story starts with the census of 1880.  For the first time, the federal government tried to gauge unemployment by asking all people age 10 or older......  [read more]

  • A Traditional Telephone Book

    What Can You Learn From the Phone Book?

    Aug 5, 12 • 425 Views • No Comments

    Among all of the innovations that changed our lives, have you ever thought about the phone book? The first phone book dates back to 1878. Compiled by the the District Telephone Company of New Haven, soon to become SNET, the Southern New England Telephone......  [read more]

  • Henry Ford's Model-T

    Ford Déjà Vu

    Aug 3, 12 • 359 Views • No Comments

    Responding to very different incentives, in 1908 and in 2012 Ford designed a lighter car. The first Model-T had a unique chassis. Made of a steel alloy that no other US car maker used, the Model-T was inexpensive, relatively powerful, sturdy and user......  [read more]