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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    Hot Spotting Medical Care

    Jan 28, 11 • 223 Views • No Comments

    These are the statistics: 900 people; 4,000 hospital visits; $200 million in medical bills from January 2002 through June 2008. The place is Camden, N.J. where a relatively small number of people were responsible for a huge proportion of the city’s...  [read more]

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    More Deficit Dilemmas

    Jan 23, 11 • 236 Views • No Comments

    We could say that what you solve depends on what you see. When told about ballooning state deficits, people first see big numbers. Their response? Let’s cut spending. According to polls, though, when asked yes or no about cutting specific programs, most...  [read more]

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    Toasters and Pencils

    Jan 17, 11 • 220 Views • No Comments

    In this TED talk, a designer explains how he tried to build his own toaster. Deciding to focus on five basic ingredients instead of the 100 he would really need, he describes what happened. For the steel, first he needed iron ore. For the plastic, he went to...  [read more]

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    Mothers and Human Capital

    Jan 10, 11 • 212 Views • No Comments

    In The Wall Street Journal, a Chinese mother discusses her rules for her children which include: 1) only A’s, 2) no play dates, 3) no parts in school plays, 4) no TV,  5) no sleepovers, 6) play the piano or violin for several hours daily....  [read more]

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    A New Way to See Friction

    Jan 4, 11 • 225 Views • No Comments

    Thinking about friction, most people picture 2 surfaces rubbing together. As economists, we should instead think of the Nobel Prize. Friction is one reason that Dale Mortensen won the 2010 Nobel Prize in Economics. Discussing unemployment, Dr. Mortensen says...  [read more]