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.

  • 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]

  • Chinese Consumers and Fresh Apples

    Coach and the Chinese Consumer

    Aug 1, 12 • 593 Views • No Comments

    Reporting their 4th quarter earnings yesterday, Coach, the handbag and accessories retailer, disappointed investors when they said that US department store and factory outlet sales had slowed. They did report, though, that sales of their handbags and......  [read more]

  • Obama/Biden and Romney/Ryan Issues

    Election Economics: Assessing the Minimum Wage

    Jul 30, 12 • 361 Views • No Comments

    Currently at $7.25, should the federal hourly minimum wage rise to $9.80? Proposed legislation from House Democrats would increase the minimum wage in three steps, 85 cents a year for 3 years. After that, the amount would move upward with inflation. Advocates......  [read more]

  • Olympic Medal...olympics_000019262071XSmall

    Lessons For London

    Jul 28, 12 • 425 Views • No Comments

    Competing against Paris, Madrid, Moscow and London for the 2012 Summer Olympic Games, NYC made it to the second round and then joined Moscow when it was cut. Next, Madrid was eliminated, then Paris, and London remained. Was winning worth it? It depends.......  [read more]

  • lobster_000020857751XSmall

    Lobster Economics

    Jul 24, 12 • 608 Views • No Comments

    The year is 2008. Icelandic banks crash. Canadian lobster processors lose their financing. The result? Demand from Canadian processors for Maine’s lobster harvest decreases. Meanwhile, on the supply side, the lobster population is soaring. Conservation......  [read more]