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:
“‘Tis this desire of bending all things to our own purposes which turns them into confusion and is the chief source of every error in our lives.”
—Sarah Fielding (1710–1768)
“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)
“And out again I curve and flow
To join the brimming river,
For men may come and men may go,
But I go on forever.”
—Alfred Tennyson (1809–1892)
“We have much studied and much perfected, of late, the great civilized invention of the division of labour; only we give it a false name. It is not, truly speaking, the labour that is divided; but the men.”
—John Ruskin (1819–1900)