This paper discusses problems with wage subsidy proposals, specifically focusing on the proposal in Rewarding Work by Edmund Phelps. It shows that the book uses one price theory to argue that the whole benefit of a wage subsidy will go to workers (rather than firms or consumers), but it uses an...

This paper discusses problems with wage subsidy proposals, specifically focusing on the proposal in Rewarding Work by Edmund Phelps. It shows that the book uses one price theory to argue that the whole benefit of a wage subsidy will go to workers (rather than firms or consumers), but it uses an...

This article introduces the Review of Social Economy symposium on the basic income guarantee (BIG). It argues that there are several ways in which the BIG is consistent with social economics. First, the BIG is an attempt to meet the minimum material needs of US citizens and contribute to the...