On the nature and significance of a free lunch
AbstractSome economists think that there is no free lunch. Fore this reason they close their eyes to the free lunch that presently exists in the inefficient labour market. It can be shown that the economy is full of free lunches. The major example is economic growth by innovation. When the possibility of a free lunch is accepted, then we can discuss the labour market in more realistic terms.
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Bibliographic InfoPaper provided by EconWPA in its series General Economics and Teaching with number 9607003.
Length: 6 pages
Date of creation: 25 Jul 1996
Date of revision:
Note: 6 pages Word for Windows, formulas, 4 diagrams
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This paper has been announced in the following NEP Reports:
- NEP-ALL-1998-10-02 (All new papers)
- NEP-ENV-1998-10-02 (Environmental Economics)
- NEP-PKE-1998-10-05 (Post Keynesian Economics)
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