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Rewarding Work: How to Restore Participation and Self-Support to Free Enterprise, with a New Preface
How To Restore Participation And Self-support To Free Enterprise, With A New Preface
- Editore:
HARVARD UNIV PR
- EAN:
9780674026940
- ISBN:
0674026942
- Pagine:
- 198
- Formato:
- Paperback
- Lingua:
- Inglese
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Descrizione Rewarding Work: How to Restore Participation and Self-Support to Free Enterprise, with a New Preface
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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