- Capitalists, Workers, and Fiscal Policy
- Hardcover January 2009
- Rewarding Work
- Since the 1970s a gulf has opened between the pay of low-paid workers and that of the middle class, resulting in the departure or frustration of much of the labor force. For Phelps, this is a failure of political economy whose widespread effects are undermining the free-enterprise system. His solution is a graduated schedule of tax subsidies to enterprises for every low-wage worker they employ. As firms hire more of these workers, the labor market would tighten, driving up their pay levels as well as their employment.
- Paperback October 2007
See also: All Books in BUSINESS & ECONOMICS.