Over the past several decades minimum wages have steadily gained importance. In many cases this reflects the weakness of unions which have been unable to prevent very low wages compared to the national average wage in some segments of the labour market. Changes in minimum wages can affect...

Trevor Swan independently developed the neoclassical growth model. Swan (1956) was published ten months later than Solow (1956), but included a more complete analysis of technical progress, which Solow treated separately in Solow (1957). Reference is sometimes made to the quot;Solow-Swan growth...