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That is to say, the wage of an employed person is equal to the value which would be lost if employment were to be reduced by one unit (after deducting any other costs which this reduction of output would avoid); subject, however, to the qualification that the equality may be disturbed, in accordance with certain principles, if competition and markets are imperfect.
— The General Theory of Employment, interest and Money
 (book)
by J. M. Keynes
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| Language: | English |
| Submitted by: | spondulix |
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