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Economics

Work, Wages and Unemployment

What sets a wage, and the question the profession reopened

Ford · Card · Krueger · Pissarides · 3 chapters · 11 min read

What sets a wage, the question the profession changed its mind about, and the number everyone quotes.

Free to read: every chapter below is open

Labour

  1. 01What Actually Sets a WageOn what sets a wage, and why the answer stopped being obvious.
  2. 02The Question the Profession ReopenedOn a question the profession answered confidently and then changed its mind about.
  3. 03The Most Quoted NumberOn the most quoted number in economics, and what it leaves out.