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.

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    Why Does New Jersey Give More Than It Gets?

    Jun 4, 12 • 299 Views • No Comments

    I never knew that my home state, New Jersey, might be at the top of the list that gives and at the bottom of the list that gets federal dollars. Receiving 55 cents for every dollar we paid in taxes, for FY (fiscal year) 2004, New Jersey’s getting to......  [read more]

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    Manufacturing and the Market System

    May 30, 12 • 307 Views • No Comments

    Adam Smith might look at recent increases in manufacturing and say, “The market works.” Here are some stories. One furniture manufacturer decided it could make consumers happier by moving back from China. Yes, it would mean paying a sander $10 an......  [read more]

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    Home Economics

    May 29, 12 • 344 Views • No Comments

    What if we think of a household as a production unit that does child care, gardening, cooking and cleaning? And, if the work in the home is “outsourced” when people hire a nanny, a housekeeper, a gardener or do take-out for dinner, then the GDP reflects......  [read more]

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    Steel Twins

    May 23, 12 • 398 Views • No Comments

    What happens when a parent of twins makes them compete? And what if the better twin is told that he has to remain ahead of his slower sibling? For twin steel factories, one in Burns Harbor, Indiana and the other in Gent, Belgium, the result is more......  [read more]

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    (Mc)Wages Around the World

    May 21, 12 • 4044 Views • No Comments

    It can be tough to compare wages around the world. While lots of people could be called iPhone assemblers or auto workers or t-shirt makers, depending on the country, factory conditions, time off, the work day, all really differ. Not for McDonald’s. At......  [read more]