Principles of Macroeconomics / Unit 17 MAC 1622 short lesson, about 20 seconds
The Cost per Job Saved
Captions available
The idea
Across studied industries, the consumer cost of preserving one job by protection has run far above the wage of the job preserved, often several times over.
In practice
Only part of the higher price preserves employment; the rest becomes profit, equipment and efficiency loss.
Where people slip
The compilations behind this are dated, so the pattern is voiced and the amounts are not.
Your place on the trail
Every lesson rests on earlier ones and opens later ones. Tap any to jump.
Builds on
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