Focuses on the proposal for resurrection or reincarnation of wage-price guideposts as permanent elements in the United States macroeconomic policy. Effect of guideposts on policies; Restraint of monopoly power; Penalties for guidepost violators. (Abstract copyright EBSCO.)

Empirical findings of recent labor market research are used in this article in the construction of theoretical models of the wage and employment behavior of the firm in an unorganized labor market. Four cases are discussed: the firm with labor requirements fixed over a range of wage rates; a...