Work, Leisure, and the Labor Supply Curve: A Reply to David Spencer.
Journal of Economic Issues › Vol. 35 Nbr. 4, December 2001
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Notes and Communications
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Work, Leisure, and the Labor Supply Curve: A Reply to David Spencer.
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Introduction: The Context of My Earlier Paper Dr. David Spencer's comment on my recent article in this journal is a welcome reflection on the issues that I tried to raise (Prasch 2000a). In general, I believe that our differences are associated with our different research agendas although several substantive points of disagreement remain. But before I turn to these, I think it would be useful if I were to abstract from specifics and present the motivation behind my project so that the reader can better understand, in colloquial terms, "where I am coming from." My September 2000 JEI article emerged out of my ongoing studies of the history of American economic thought on the policy of minimum wage legislation (cf. Prasch 1998, 2000c). While writing these several articles, I found myself reflecting on the fact that, in contrast to the Progressive Era, minimum wage legislation is now conventionally considered a flawed economic policy. This chang...See the full content of this document
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