Economic Analysis of Guaranteed Wages

accumulation of reserves aggregate demand anteed wage antidepression average boom burden business cycle capital chapter collective bargaining consumption corporate cyclical deflationary depression discussion earnings economic analysis effective demand effects of guaranteed efficiency employer expenditure expense extent fall favorable firms fluctuations full employment program governmental grants-in-aid gross national product guar guaran guaranteed wage plans guaranteed wage programs guaranteed-wage plans Hansen and Samuelson high employment hourly rates important incentive increase industry instability investment involved lay-offs less level of employment liability limited maintain maintenance ment national income net investment nomic outlays output over-all pay rolls percent periods ployer ployment possible problem profits propensity to consume raise redistribution reduced relatively reserve accumulation reserve financing reserve funds saving seasonal social security stabilization steady substantial sumers tend tion unem unemploy unemployment insurance variable variable cost wage contract wage guarantee plans wage payments wage rates whole