Are Workers Paid Their Marginal Product
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Are Workers Paid Their Marginal Product
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Author : Stephen Machin
language : en
Publisher:
Release Date : 1993
Are Workers Paid Their Marginal Product written by Stephen Machin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Economics categories.
Are Workers Paid Their Marginal Product
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Author : Stephen Machin
language : en
Publisher:
Release Date : 1993
Are Workers Paid Their Marginal Product written by Stephen Machin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Labor costs categories.
The Real Wage And The Marginal Product Of Labor
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Author : Robert Dixon
language : en
Publisher:
Release Date : 1985
The Real Wage And The Marginal Product Of Labor written by Robert Dixon and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1985 with Labor supply categories.
Choosing The Right Pond
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Author : Robert H. Frank
language : en
Publisher: New York ; Oxford [Oxfordshire] : Oxford University Press
Release Date : 1985
Choosing The Right Pond written by Robert H. Frank and has been published by New York ; Oxford [Oxfordshire] : Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1985 with Business & Economics categories.
Is money the major factor in shaping the marketplace? Is salary the prime consideration in job satisfaction? Not necessarily, according to Robert Frank. Economists, Frank charges, have refused to treat people as people, and consequently they have painted a distorted picture of the marketplace. Economists have too often neglected fundamental elements of human nature and therefore have failed to ask many obviously important questions and have offered wrong or at best misleading answers to the questions they do ask. This challenging and provocative book offers an alternative to the prevailing view of human beings as economic automatons. Individual desires--notably the quest for status--profoundly affect the marketplace. "Status concerns play dominant roles in many of the most important private transactions and underlie much of the regulatory apparatus we observe in the modern welfare state," Frank writes. The book offers a radical reinterpretation of what private markets can and cannot do and suggests new ways of looking at familiar regulations and social programs. Many of the issues discussed touch directly upon the strongest concerns we feel as human beings struggling to define our roles and affirm our importance in the world around us. About the Author: Robert H. Frank is Associate Professor of Economics at Cornell University. He is the co-author (with Richard Freeman) of The Distributional Consequences of Direct Foreign Investment.
The Methodology Of Economics
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Author : Mark Blaug
language : en
Publisher: Cambridge University Press
Release Date : 1992-07-31
The Methodology Of Economics written by Mark Blaug and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992-07-31 with Business & Economics categories.
This book is an examination of the nature of economic explanation. The opening chapters introduce current thinking in the philosophy of science and review the literature on methodology. Professor Blaug then turns to the troublesome question of the logical status of welfare economics, giving the reader an understanding of the outstanding issues in the methodology of economics. This is followed by a series of case studies of leading economic controversies, which shows how controversies in economics may be illuminated by paying attention to questions of methodology. A final chapter draws the strands together and gives the author's view of what is wrong with modern economics. This book is a revised and updated edition of a classic work on the methodology of economics, in which Professor Blaug develops his discussion of the latest developments in macroeconomics, general equilibrium theory and international trade theory. A new section on the rationality postulate is also added.
Mexico
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Author : Gladys Lopez Acevedo
language : en
Publisher: World Bank Publications
Release Date : 2005
Mexico written by Gladys Lopez Acevedo and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Capital humano - Mexico categories.
The authors follow the Hellerstein, Neumark, and Troske (1999) framework to estimate marginal productivity differentials and compare them with estimated relative wages. The analysis provides evidence on productivity and nonproductivity-based determinations of wages. Special emphasis is given to the effects of human capital variables, such as education, experience, and training on wages and productivity differentials. Higher education yields higher productivity. However, highly educated workers earn less than their productivity differentials would predict. On average, highly educated workers are unable to fully appropriate their productivity gains of education through wages. On the other hand, workers with more experience are more productive in the same proportion that they earn more in medium and large firms, meaning they are fully compensated for their higher productivity. Finally, workers in micro and small firms are paid more than what their productivity would merit. Training benefits firms and employees since it significantly increases workers' productivity and their earnings.
The Real Wage And The Marginal Product Of Labour
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Author : Robert Dixon
language : en
Publisher:
Release Date : 1985
The Real Wage And The Marginal Product Of Labour written by Robert Dixon and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1985 with categories.
The Real Wage And The Marginal Product Of Labor
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Author : Tracy Mott
language : en
Publisher:
Release Date : 2000
The Real Wage And The Marginal Product Of Labor written by Tracy Mott and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with categories.
As I see it, the errors in Keynes's analysis in Chapter Two of the General Theorv were his acceptance of diminishing returns in the short-period relation between output and labor employed and of perfect competition in the product market. These "errors," however, are easily corrected and do not alter Keynes's basic and correct ideas -- that employment is determined by aggregate demand, that real wages are determined by aggregate demand given the degree of competition and the level of capital utilization and other determinants of the productivity of labor, and that the supply of labor, at least below full employment, has no effect on either employment or real wages. I would like to reiterate that the formulation we have established here is "Ricardian" rather than neoclassical. Basically all we have said is that the mark-up represents a deduction from the product of labor and that since the mark-up is certainly not procyclical and productivity probably is procyclical, as the "margin" of production is extended, real wages rise. Sraffa (1960, pp. v-vi) has argued that such a use of the term "marginal" is spurious, since the true application of the term "requires attention to be focused on change," while this use of the term, as in Ricardo's discussion of the margin of cultivation, need only be a matter of differences in quality among existing productive facilities rather than changes in scale or in input proportions. We have come a long way from the neoclassical idea of a marginal product of labor, but this should not make either us or Keynes embarrassed about Chapter Two of the General Theory, one of the most interesting and important chapters in the book. Lawlor, Darity, and Horn (1987) noted that Sraffa (1926) had pointed out that the determination of prices and quantities by the interaction of supply and demand necessitates an independence between supply and demand which does not obtain except under very restrictive conditions. Sraffa (1960) extends this argument by showing that scarcity, as in scarce factors of production, is not necessary to determine value and in fact cannot determine value independently of income distribution. Keynes's and Kalecki's work shows that when we take effective demand into account, output is determined solely by demand and distribution by the conditions of competition. Kalecki's and Keynes's work can thus be taken as an Hegelian "supersession" of classical and neoclassical economics when we realize that workers cannot bargain in terms of a real wage and that output not saleable will soon no longer be produced.
Are Older Workers Paid More Than Their Marginal Products
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Author : Thomas Myung-Suk Yang
language : en
Publisher:
Release Date : 1989
Are Older Workers Paid More Than Their Marginal Products written by Thomas Myung-Suk Yang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989 with categories.
The Marginal Productivity Theory Of Distribution
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Author : John Pullen
language : en
Publisher: Routledge
Release Date : 2009-06-26
The Marginal Productivity Theory Of Distribution written by John Pullen and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-06-26 with Business & Economics categories.
The Marginal Productivity Theory of Distribution (MPTD) claims that in a free-market economy the demand for a factor of production will depend upon its marginal product – where "marginal product" is defined as the change in total product that is caused by, or that follows, the addition or subtraction of the marginal unit of the factor used in the production process, with all other inputs held constant. From its inception in the early nineteenth century the MPTD has been claimed by some economists to be a solution to the ethical problem of distributive justice, i.e. to be a means of determining fairness in wages, profits, interest and rent. Other economists have rejected this ethical claim, but have seen the MPTD as a valid demand-side criterion in the determination of equilibrium and efficiency. This book argues that the MPTD is valid, neither as a normative theory of social justice, nor as a positive law of economics. It suggests that economics is yet to develop a satisfactory theory of distribution that is scientific in the quantitative or mathematical sense. Through a survey of the origin and subsequent evolution of the MPTD in the writings of over 50 contributors over 150 years, John Pullen presents a critical history of the concept. The book begins by examining the conceptual tools that have been deployed to facilitate this analysis of past contributions to the MPTD and then looks at various economists and their contribution to the debate including its supporters such as Wicksteed, Marshall, Wicksell and Stigler, and its critics such as Pareto, Hobson, Edgeworth, Adriance and Cassel.