Title: A "New" Concept in Wage Determination: Disguised Productivity Analysis
Abstract: Two new concepts in wage determination, offered in John T. Dunlop's essay, Task of Contemporary Wage Theory,' are alleged to define the points at which wage-making forces are concentrated, for they help to focus attention upon the operation of demand and and suggest that product-market competition and conditions decisively influence the structure of wage rates.2 The suggested reformulation of wage theory is accompanied by a rejection of marginal productivity analysis, which has proved unsatisfactory as a tool of analysis.3 If we are to accept the proposed reformulation, Dunlop must demonstrate that the new concepts (1) depart significantly from familiar concepts in productivity analysis and (2) are more effective than the received doctrine in focusing attention upon demand and supply and in accounting for the influence of product-market competition and conditions. The proposed reformulation can be accepted only with reservations, however, if the new concepts are disguised applications of an existing analytical tool.
Publication Year: 1959
Publication Date: 1959-10-01
Language: en
Type: article
Indexed In: ['crossref']
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