Minimum Wage, Labor Equilibrium, and the Productivity Horizon: A Visual Examination

John R. Moser

Papers from arXiv.org

Abstract: In this paper, I present a visual representation of the relationship between mean hourly total compensation divided by per-capita GDP, hours worked per capita, and the labor share, and show the represented labor equilibrium equation is the definition of the labor share. I also present visual examination of the productivity horizon and wage compression, and use these to show the relationship between productivity, available employment per capita, and minimum wage. From this I argue that wages are measured in relation to per-capita GDP, and that minimum wage controls income inequality and productivity growth.

Date: 2020-10, Revised 2020-12
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Persistent link: https://EconPapers.repec.org/RePEc:arx:papers:2010.14669

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