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The Physical Basis Of Voluntary Trade, Karl Widerquist
The Physical Basis Of Voluntary Trade, Karl Widerquist
Karl Widerquist
The article discusses the conditions under which can we say that people enter the economic system voluntarily. “The Need for an Exit Option” briefly explains the philosophical argument that voluntary interaction requires an exit option—a reasonable alternative to participation in the projects of others. “The Treatment of Effective Forced Labor in Economic and Political Theory” considers the treatment of effectively forced interaction in economic and political theory. “Human Need” discusses theories of human need to determine the capabilities a person requires to have an acceptable exit option. “Capability in Cash, Kind, or Raw Resources” considers what form access to that …
An Introduction To Citizens Capital Accounts, Karl Widerquist
An Introduction To Citizens Capital Accounts, Karl Widerquist
Karl Widerquist
No abstract provided.
Problems With Wage Subsidies: Phelps's Economic Discipline And Undisciplined Economics, Karl Widerquist
Problems With Wage Subsidies: Phelps's Economic Discipline And Undisciplined Economics, Karl Widerquist
Karl Widerquist
This paper discusses problems with wage subsidy proposals, specifically focusing on the proposal in Rewarding Work by Edmund Phelps. It shows that the book uses one price theory to argue that the whole benefit of a wage subsidy will go to workers (rather than firms or consumers), but it uses an opposing price theory to argue against the Earned Income Tax Credit, unions and public jobs. These and other inconsistencies in the book make it a weak argument for its conclusions.