{"id":26,"date":"2008-11-21T12:02:59","date_gmt":"2008-11-21T12:02:59","guid":{"rendered":"http:\/\/prodos.solidvox.com\/?p=26"},"modified":"2008-11-21T12:02:59","modified_gmt":"2008-11-21T12:02:59","slug":"the-marginal-productivity-theory-debate","status":"publish","type":"post","link":"https:\/\/prodos.solidvox.com\/?p=26","title":{"rendered":"The Marginal Productivity Theory Debate"},"content":{"rendered":"<ul>\n<li><a title=\"Labor\/Labour Market Reform - Marginal Productivity Theory with Gerard Jackson on PRODOS Worldwide - SOLID VOX Network.\" href=\"http:\/\/solidvox.com\/pw-labormarketreform05.mp3\">Listen, download, or podcast this interview<\/a><\/li>\n<\/ul>\n<p>Australian Free Market Economist, <strong>Gerard Jackson<\/strong>, discusses &#8220;Marginal Productivity Theory&#8221;.<\/p>\n<p>Here is a simple definition of this theory from <a title=\"Marginal Productivity Theory\" href=\"http:\/\/www.answers.com\/topic\/wage\" target=\"_blank\">Answers.com<\/a>:<\/p>\n<blockquote><p>The marginal-productivity theory maintains that employers will only pay a wage that is, at most, equal to the amount of extra value added to the total product by one additional worker.<\/p><\/blockquote>\n<p>And here&#8217;s another from <a title=\"Marginal Productivity Theory\" href=\"http:\/\/concise.britannica.com\/ebc\/article-9371302\/marginal-productivity\" target=\"_blank\">Britannica Concise<\/a> &#8230;<\/p>\n<blockquote><p>In economics, the theory that firms will pay a productive agent only what he or she adds to the financial earnings of the firm.<\/p><\/blockquote>\n<p>This is not an easy Theory to grasp for non-Economists. <\/p>\n<p><!--more-->But the different views that different Economists have on Marginal Productivity Theory determines what Economists and policy makers decide should be done to reduce unemployment and to achieve full employment.<\/p>\n<p>Diagrams that are referred to during this interview &#8230;<\/p>\n<p>[photopress:marginalproductivity01.jpg,full,pp_image]<br \/>\nDiagram 1.<\/p>\n<p>[photopress:marginalproductivity02.jpg,full,pp_image]<br \/>\nDiagram 2.<\/p>\n<p>[photopress:marginalproductivity03.jpg,full,pp_image]<br \/>\nDiagram 3.<\/p>\n<p>Also referred to during this interview:<\/p>\n<ul>\n<li><a title=\"Gerard Jackson - Capital Accumulation\" href=\"http:\/\/www.brookesnews.com\/060105jobscapital.html\" target=\"_blank\">Gerard Jackson&#8217;s essay: Minimum Wages and Capital Accumulation: Lefty economists fail again.<\/a><\/li>\n<li><a title=\"A highly flawed anti free market analysis of labor\/labour markets.\" href=\"ftp:\/\/repec.iza.org\/RePEc\/Discussionpaper\/dp2068.pdf\" target=\"_blank\">Paper by Paul Frijters and Robert Gregory: From Golden Age to Golden Age: Australia&#8217;s &#8220;Great Leap Forward&#8221;?<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Listen, download, or podcast this interview Australian Free Market Economist, Gerard Jackson, discusses &#8220;Marginal Productivity Theory&#8221;. Here is a simple definition of this theory from Answers.com: The marginal-productivity theory maintains that employers will only pay a wage that is, at most, equal to the amount of extra value added to the total product by one &hellip; <a href=\"https:\/\/prodos.solidvox.com\/?p=26\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">The Marginal Productivity Theory Debate<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-26","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/prodos.solidvox.com\/index.php?rest_route=\/wp\/v2\/posts\/26","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prodos.solidvox.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prodos.solidvox.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prodos.solidvox.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prodos.solidvox.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=26"}],"version-history":[{"count":0,"href":"https:\/\/prodos.solidvox.com\/index.php?rest_route=\/wp\/v2\/posts\/26\/revisions"}],"wp:attachment":[{"href":"https:\/\/prodos.solidvox.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prodos.solidvox.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prodos.solidvox.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}