1. The problem labour monopoly might solve -- 2. The fall and rise of labour monopoly theory -- 3. How a wage bill hill creates a wage rate floor -- 4. Why the floor will fluctuate -- 5. How bargaining may build a ceiling instead of a floor -- 6. How foresight may (and may not) defeat the floor...

The paper evaluates the effectiveness of growth as a remedy for unemployment in the face of a wage minimum in a Solow-Ramsey growth model. It is shown that growth alone will be sufficient to eventually eliminate any quantity of unemployment, as long as the minimum wage is not set "too high."...