Backward Bending Supply Curve Of Labour
The backward-bending supply curve of labour is a thesis that claims that as wages increase, people will substitute leisure for working. Eventually, wages can increase to a point where less labour is offered in the market.
Read more about Backward Bending Supply Curve Of Labour: Overview, Assumptions, Inverted S Shaped Supply Curve
Famous quotes containing the words bending, supply, curve and/or labour:
“No ray is dimmed, no atom worn,
My oldest force is good as new,
And the fresh rose on yonder thorn
Gives back the bending heavens in dew.”
—Ralph Waldo Emerson (1803–1882)
“Has God’s supply of tolerable husbands
Fallen, in fact, so low?
Or do I always over-value woman
At the expense of man?
Do I?
It might be so.”
—Robert Graves (1895–1985)
“Nothing ever prepares a couple for having a baby, especially the first one. And even baby number two or three, the surprises and challenges, the cosmic curve balls, keep on coming. We can’t believe how much children change everything—the time we rise and the time we go to bed; the way we fight and the way we get along. Even when, and if, we make love.”
—Susan Lapinski (20th century)
“Indeed, I thought, slipping the silver into my purse ... what a change of temper a fixed income will bring about. No force in the world can take from me my five hundred pounds. Food, house and clothing are mine for ever. Therefore not merely do effort and labour cease, but also hatred and bitterness. I need not hate any man; he cannot hurt me. I need not flatter any man; he has nothing to give me.”
—Virginia Woolf (1882–1941)