>> --- david friedman <[EMAIL PROTECTED]> wrote: >> "Suppose we instead assume that everyone has the same >> ability to convert leisure into income...." > > The assumption does seem awfully unrealistic. > -jsh
It has its limitations, but workers are quite able to control their amount of leisure on several margins: 1) the numbers of hours worked, for those with the option of overtime or else simply doing more work for the same pay, or shifting to part-time work. 2) having, or not, a second, third, etc., job, including consulting. 3) using sick leave 4) retiring earlier or later 5) being, or not, a second or third family member with a job 6) moving closer to work and spending less time commuting 7) spending more time and resources to reduce taxation (less leisure, more income) 8) students postponing their first employment to indulge in travel or graduate school. Fred Foldvary ===== [EMAIL PROTECTED]
