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.

  • Weekly roundup and Swedish wealth distribution

    More Thanksgiving Economics

    Nov 28, 13 • 1094 Views • No Comments

    Our annual Thanksgiving post: In 1623, 2 years after the first Thanksgiving, Governor William Bradford was worried about Plymouth’s food supply. The problem, he concluded, was that people shared whatever they produced. Because they expected “able and......  [read more]

  • Weekly roundup, brexit and divorce

    A New Reason to Marry

    Nov 25, 13 • 746 Views • No Comments

    Traditionally, marriage has been about specialization and “production complementarities.” With the husband in the labor force and the wife at home, their division of labor resembled a small factory. He supplied the income and she was the......  [read more]

  • The Complexity of Making a Pencil in "I, Pencil"

    The Problem With Elegant Technology

    Nov 24, 13 • 546 Views • No Comments’s problems might relate to “elegance.” Equal to simplicity, elegance results from eliminating complexity. In the Broadway play “Proof,”  the math proof was elegant. For me it could be an analytic essay or an......  [read more]

  • Weekly oundup and Interstate Migration

    Is Your Home State Popular?

    Nov 23, 13 • 793 Views • No Comments

    The Erie Canal has always been my favorite. Initiated by a Clinton who wanted to be President (DeWitt Clinton, governor of NYS), the canal was completed in 1825. Because it connected Albany, NY to Buffalo, NY, people and goods in New York City could move much......  [read more]

  • Weekly roundup and Foreign exchange and Venezuela's beer shortage

    Using Beer as an Incentive

    Nov 22, 13 • 634 Views • No Comments

    Reading about how a group in Amsterdam solved a public disturbance problem, I immediately thought about choice architecture. In Nudge, a Harvard Law Professor, Cass Sunstein, and a University of Chicago economist, Richard Thaler, suggest that choice......  [read more]