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.

  • Pantsuits Convey Power

    Power and Pantsuits

    Nov 29, 12 • 667 Views • No Comments

    Today, some thoughts about pantsuits and power. One scholarly analysis of Hillary Clinton’s pantsuits concluded that they displayed her toughness. In a Harper’s Bazaar interview, Nancy Pelosi is asked, “How many pantsuits do you have?” Her answer:......  [read more]

  • GDP...16843_5.2_9209625-gdp

    Do You Like the GDP?

    Nov 28, 12 • 494 Views • No Comments

    Having just come across the “Better Life Index,” I started thinking about Ed Koch, a former mayor of NYC who often asked everyone, “How am I doing?” Here are some thoughts about how to measure how well we are doing. The GDP:......  [read more]

  • Marijuana legalization is about demand, supply, market structure and cost benefit analysis.

    An Economic High?

    Nov 25, 12 • 969 Views • No Comments

    On November 6, Colorado voters resoundingly agreed that recreational use of marijuana would become legal. However, as Colorado Governor John Hickenlooper said, “…federal law still says marijuana is an illegal drug so don’t break out the Cheetos or......  [read more]

  • Equality or Efficiency, the Size of the Pie and Each Slice

    More Thanksgiving Economics

    Nov 23, 12 • 435 Views • No Comments

    From a past econlife 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 “able and fit”......  [read more]

  • Hoping to stimulate the economy, in 1939, FDR moved the date of Thanksgiving back a week.

    Thanksgiving Economics

    Nov 22, 12 • 668 Views • No Comments

    Reminding us of the economic significance of Thanksgiving, in 1939, President Franklin Roosevelt rescheduled the holiday. In 1939, Thanksgiving would have fallen on the last day of the month. That meant Christmas shopping would have been fewer days than usual......  [read more]