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Rewarding Work "How To Restore Participation And Self-Support To Free Enterprise"

How To Restore Participation And Self-Support To Free Enterprise

Rewarding Work "How To Restore Participation And Self-Support To Free Enterprise". How To Restore Participation And Self-Support To Free Enterprise

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  • ISBN:9780674026940
  • Editorial: Harvard University Press
  • Fecha de la edición:
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  • Dimensiones: 0 cm x 0 cm
  • Nº Pág.:224
  • Idiomas:Ingles,Inglés

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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 labour 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 labour market would tighten, driving up their pay levels as well as their employment.

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