Suppose we look at the determination of wages at the level of markets
and proces. One of the lessons of the Reagan-Bush-Clinton era seems to
be that the price of labor is VERY sensititive to the institutional
framework in which labor power is bought and sold.
I am now working this idea into a book on the inherent instability of
capitalism.
-- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 916-898-5321 E-Mail michael@ecst.csuchico.edu