The Guaranteed Annual Wage, Employment and Economic Progress

Leeman, Wayne A.
July 1955
ILR Review;Jul55, Vol. 8 Issue 4, p565
Academic Journal
Guaranteed annual wage plans have as their basic purpose reduction of the risk faced by workers of loss of income through unemployment—a risk which arises from the uncertainties of economic activity in a free enterprise economy. If not borne by the worker, where and how is this risk to be absorbed? This discussion suggests two alternatives: transfer, through income redistribution, of payment for risk-carrying from workers to employers; or reduction in the amount of risk assumed by employers, through a decrease in new investment.


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