Rewarding Work: How to Restore Participation and Self-Support to Free Enterprise, With a New PrefaceHarvard University Press, 21. 4. 1997 - Počet stran: 198 Since the 1970s a gulf has opened between the pay of low-paid workers and the pay of the middle class. No longer able to earn a decent wage in respectable work, many have left the labor force, and the job attachment of those remaining has weakened. For Edmund Phelps, this is a failure of political economy whose widespread effects are undermining the free-enterprise system. His solution is a graduated schedule of tax subsidies to enterprises for every low-wage worker they employ. As firms hire more of these workers, the labor market would tighten, driving up their pay levels as well as their employment. |
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Rewarding Work: How to Restore Participation and Self-support to Free Enterprise Edmund S. Phelps Náhled není k dispozici. - 1997 |
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affordable wage Amartya Sen American billion blacks budgetary savings capital Confindustria crime culture disadvan disadvantaged workers earners earnings economists effects employ employees enterprises entitlements external benefit finance firms flat tax full-time gain graduates Gylfi high school higher hiring Hispanics hourly labor cost hourly wage incentive wage increase Inequality interest rates investment job attachment joblessness labor force labor market less advantaged less educated less productive low wages low-wage employment subsidies low-wage subsidies low-wage workers lower manufacturing median wage ment minimum wage nomic outlays payroll tax percent poor raise reduced relative wage rest of society result revenue reward Rhetoric of Reaction Richard Jackman Richard Layard rise sector self-support share skilled social wealth Stephen Nickell subsidy plan subsidy system tax credit tax rate tion tive unem unemployed unemployment rate unskilled wage income wage rates wage subsidy welfare system widening William Julius Wilson Xavier Sala-i-Martin
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