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About the book
In the 1960s, economic development was thought to be shaped by unlimited supplies of labour. Unlimited labour supply implies that wages would remain stagnant even when economies grow. In the 21st Century, the evidence is clear: the correlation between changes in wages and changes in Gross Domestic Product (GDP) per capita is high and close to one across economies of various sizes. Economic Development with Limited Supplies of Labor argues that the size of an economy's labour force does condition...Show more
Book details
ISBN
9781464810428
Publisher
World Bank Publications
Published year
2017
Language
Edition
1
Original title
Open and nimble
Format
Paperback
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