November 18, 2009

Richmond Fed Publication Examines Quality of Life

Richmond, Va.

Economists and policymakers often use average income as a way to gauge a country's "standard of living." But should policymakers use other measures — including health, education, and even aggregate happiness — when making economic policy? The cover story of the latest issue of Region Focus looks at how recent economic research can help us better understand quality of life.

Also in this issue:

• Retail Medicine. Patients have begun to seek routine medical care at clinics located in retail stores. These outlets have created new competition that may affect the traditional ways health care is delivered.
• Antitrust. Antitrust laws were originally created to protect consumers against monopolies. Yet today many believe some market arrangements that might appear anticompetitive instead enhance the welfare of consumers.
• Seasonal Employment. The tourism hotspot of Myrtle Beach, S.C., illustrates how business conditions can affect seasonal employment.

Region Focus, a quarterly business magazine published by the Federal Reserve Bank of Richmond, covers the economy and business activities of the District of Columbia, Maryland, North Carolina, South Carolina, Virginia, and most of West Virginia.

For free copies of Region Focus, contact the Bank's Research Publications division at 800.322.0565. The articles are available online at http://www.richmondfed.org/publications

The Federal Reserve Bank of Richmond is one of 12 District Reserve Banks that together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. The Richmond Fed serves the Fifth Federal Reserve District, which encompasses the District of Columbia, Maryland, North Carolina, South Carolina, Virginia, and most of West Virginia.

###