Paradox of toil
id:
paradox-of-toil-299-12138772
title:
Paradox of toil
text:
The paradox of toil is the economic hypothesis that, under certain conditions, total employment will shrink if there is an increased desire among the population to take on paid work. According to the macroeconomist Gauti Eggertsson, this occurs when "the short-term nominal interest rate is zero and there are
deflationary pressures and output contraction". When wages are pushed down by the simultaneous efforts of everyone in the labor force to work more even at lower wages, with interest rates ag
brand slug:
wiki
category slug:
encyclopedia
description:
Economic hypothesis
original url:
https://en.wikipedia.org/wiki/Paradox_of_toil
date created:
date modified:
2023-04-24T19:12:09Z
main entity:
{"identifier":"Q7134456","url":"https://www.wikidata.org/entity/Q7134456"}
image:
fields total:
13
integrity:
14