Quarterly Journal of Austrian Economics
Author:
Richard Vedder
Online Publish Date:
Volume 4, No. 1 (Spring 2001) Margo concludes what Austrian economists have surmised all along, namely that the rise in real wages during this period very closely approximated the rise in worker productivity (both grew about 1 percent a year). The major bottom-line conclusions arising from Margo’s exercise are congenial with Austrian—and, for