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On the nature and significance of a free lunch

Author

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  • Thomas Cool

    (Consultancy & Econometrics)

Abstract

Some economists think that there is no free lunch. Fore this reason they close their eyes to the free lunch that presently exists in the inefficient labour market. It can be shown that the economy is full of free lunches. The major example is economic growth by innovation. When the possibility of a free lunch is accepted, then we can discuss the labour market in more realistic terms.

Suggested Citation

  • Thomas Cool, 1996. "On the nature and significance of a free lunch," General Economics and Teaching 9607003, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpgt:9607003
    Note: 6 pages Word for Windows, formulas, 4 diagrams
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    • A - General Economics and Teaching

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