"The fact that employees are willing to put up with so much for the sake of keeping their jobs indicates just how valuable jobs are to the typical employee."
" Economists tend to use simple models with no pre-existing distortions
to illustrate the benefits of low taxes."
" In simple models with no pre-existing distortions,
workers actually don’t value their existing jobs much at all
—they can always get another job."
the vickrey macro mission
" in the real world, jobs are very valuable to people
that makes the destruction of jobs by taxes and unwise regulations
much worse than if people didn’t value jobs."
notice this translates into tax breaks and dereg FOR FIRMS !!!
prolly a shift from "corporate side " payroll taxes
to "consumption " taxes
"The simple models are nice because what happens in the absence of taxes is clean and neat and attractive. But the benefits of low marginal tax rates are actually much greater in more advanced models where :
(a) imperfect competition is already leading firms to underproduce
(b) minimum wages, union power, occupational licensing, and the need to obtain worker cooperation lead to jobs being valuable to people "
