When the Time Price of Leisure Rises: The Linder Theorem

Blog: Conversable Economist

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Abstract

In the United States, we naturally celebrate the Labor Day holiday with a holiday from work. While this may be counterintuitive for others, economists have long see the price of labor and leisure as intimately intertwined. Although prices are often stated in terms of money, which is a useful convenience, the true price of anything … Continue reading When the Time Price of Leisure Rises: The Linder Theorem
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