01 / observation
In terms of welfare, of course, as economists, you know what matters is productivity, not income per se because if you have a higher income just because you work longer hours, the effect on welfare is ambiguous.
“In terms of welfare, of course, as economists, you know what matters is productivity, not income per se because if you have a higher income just because you work longer hours, the effect on welfare is ambiguous.”
- Speaker
- Thomas Piketty
- Publisher
- Conversations with Tyler