REALISM AND ABSTRACTION IN ECONOMICS (william)
- Highlight on Page 12 | Added on Monday, March 12, 2012, 12:57 AM
the theory that minimum wage laws cause unemployment is not a precisive abstraction, applicable only to an idealized case in which minimum wage laws are the only factor influencing unemployment; rather it is a nonprecisive abstraction, applicable to all situations involving minimum-wage laws,
