If families practice primogeniture, passing wealth on each time to a single member of the next generation (typically the oldest son), then the total would be unaffected.
One reason for there being no comparable unemployment target is that there is a degree of ambiguity about the goal itself. Indeed, we have to ask why the US Congress is seeking "maximum employment." Why is it better to increase the number of sixty-four-year-olds stacking supermarket shelves? To pur…
the "parlous state" of German unions
Such a bias arises in an acute form in what is known as the Baumol effect, after the US economist William J. Baumol, who argued that productivity grows faster in certain sectors than in others, and that in some sectors there was no scope for producing more output per person.
example given: if cars can be built more quickly, and wages rise in line with manufacturing productivity, then the fact that you can't make (say) education more "productive" the same way means the relative cost of education will be higher
