Dale T. Mortensen Quotes

Unemployment is 'involuntary' when the price is above its market clearing level. Workers are unemployed because jobs are not available at the prevailing wages, period. The only recourse is to either expand the number of jobs or somehow lower the wage.

Dale T. Mortensen

• Period
• Price
• Either
• Unemployment

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• Unemployment is 'involuntary' when the price is above its market clearing level. Workers are unemployed because jobs are not available at the prevailing wages, period. The only recourse is to either expand the number of jobs or somehow lower the wage.

  

  Dale T. Mortensen
  • Period
  • Price
  • Either