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S E17: The Labor Market - Live to Work, or Work to Live?

Think Like An Economist

CHAPTER

What's the Big Picture in the Labour Market?

Economists debate how important this effect is. Many economists argue thatit it's pretty minor. But those economists who disagree tend to argue that lowering taxes will spur people to work a bit harder. How many jobs are available and the wages you might get paid depend on supply and demand. Think about your comparative advantage - what can you do more effectively than others? That's where you'll be most valued. And try to find those careers where future technologies will actually make you more valuable. Realize that your career isn't just one choice, but a series of choices over time.

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