A mathematical note on Msgr. John A. Ryan's thought on the minimum wage
This paper examines Msgr. John A. Ryan's economic thought regarding the mechanics by which an increase in the minimum wage is funded. In particular, a mathematical comparative-static model is used to explore Msgr. Ryan's economic assumptions concerning the channels by which income is redistributed to workers from other factor owners. The analysis shows that Msgr. Ryan's approach includes assumptions regarding economic relationships and implies specific values of wage elasticities.
Volume (Year): 65 (2007)
Issue (Month): 4 ()
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