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Open Economy Macroeconomics Using Models of Closed Systems

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  • Wynne Godley

    (The Jerome Levy Economics Institute)

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    Abstract

    The concept of the minimum wage has undergone several rhetorical permutations. Originally conceived as a living wage, which would function as a family wage, it ultimately became a matter of macroeconomic policy, the goals of which were to achieve greater efficiency and in some cases economic development. In recent years, the rhetoric has narrowed to a debate that pits a youth disemployment effect against assisting the poor. This paper traces the rhetorical evolution of the minimum wage and shows how the rhetoric employed by various groups has been shaped by the specifics of the political and economic environment.

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    File URL: http://128.118.178.162/eps/mac/papers/0004/0004028.pdf
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    Bibliographic Info

    Paper provided by EconWPA in its series Macroeconomics with number 0004028.

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    Length: 28 pages
    Date of creation: 09 Oct 2000
    Date of revision:
    Handle: RePEc:wpa:wuwpma:0004028

    Note: Type of Document - Adobe Acrobat PDF; prepared on IBM PC; to print on PostScript; pages: 28; figures: included
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    Web page: http://128.118.178.162

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    1. William H. Branson & Dale W. Henderson, 1984. "The Specification and Influence of Asset Markets," NBER Working Papers 1283, National Bureau of Economic Research, Inc.
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