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.

  • Human capital helps GDP Grow

    The Supreme Court, Starbucks and Human Capital

    Oct 12, 12 • 359 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 • 536 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]

  • Obama/Biden and Romney/Ryan Issues

    Election Economics: Social Security

    Oct 8, 12 • 459 Views • No Comments

    Last year and the year before, Social Security collected less from the taxes that fund it than it paid to beneficiaries. All was okay though, because a trust fund exists for precisely that reason. With more than $2 trillion invested in US treasuries, the......  [read more]

  • Job Gains in Texas and Losses in Caifornia and Florida

    A Tale of Two Surveys

    Oct 6, 12 • 366 Views • No Comments

    Everyone was surprised that the US unemployment rate for September dipped to 7.8%. Interpreting the number as evidence of an accelerated recovery, some people were delighted. Others advised caution, saying the statistical source of the unemployment rate is......  [read more]

  • Henry Ford's Model-T

    Cars For the Masses

    Oct 4, 12 • 438 Views • No Comments

    How to produce a car for the masses? Long ago, Henry Ford had it figured out and now Nissan will try it again in emerging markets. The Nissan story fascinated me because of what it represents. A car is aspirational. It is a step into the middle class. Making......  [read more]