But nor can we assume that the same amount of labour would be used at this much higher, US, price.
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When wages rise employers economise on the amount of labour they use.
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However, if the job market is tight then he can only gain that greater amount of labour by attracting people from other firms.
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In crude terms, this holds that each company or sector of the economy needs a certain amount of labour, at any one moment.
As you can see, they are explicitly assuming that if you change the price of labour then the same amount of labour will get employed.
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It is simply true that the amount of labour we need to manufacture things is falling faster than the amount of things we want manufactured is rising.
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So, as manufacturing productivity increases faster than service productivity wages in general rise: yet the amount of labour that is embedded in manufactures is decreasing faster than that embedded in services.
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As we curious shaved apes play around with stuff and work out new methods of doing things we reduce the amount of labour necessary to provide any given level of production.
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We want to reduce the amount of human labour we have to use to perform any particular task, not increase it.
You see, the thing is, we always want to do whatever it is while using the least amount of human labour possible.
But we still want to make it a cleaner, greener, richer place while using the least amount of human labour possible to do so.
Certainly, social protection does carry economic costs, reducing the amount of output that can be squeezed from any given amount of capital, labour and other resources.
In any economy, the fallacy says, there is only a fixed amount of work (a lump of labour) to do.
Once he had been in power for a few years, Mr Blair came to regret the amount of time and energy New Labour had devoted to courting the media.
So, using the Green Party numbers (and these are UK numbers, might not be quite the same in other countries), we can use the labour of 900 people to produce a TWhr of electricity or the labour of 75 people to provide us with the same amount.
The unit labour costs that is, the amount that had to be paid for labour relative to the value of the goods produced with it.
He said reprinting the census forms would cost five times the amount of the advertising campaign, and said the planned Labour Force Survey would provide better dater about Welsh ethnicity than a tick box would.
The proposal was developed by the Conservative-run county council and Labour-controlled City of York Council to reduce the amount of household waste being sent to landfill.
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Both the Conservative and Labour parties agree that it would be desirable to increase the amount of money they can raise from small donations.
The borrowing figure for the last year of the Labour government, 2009-10, fell by a similar amount, just between Alistair Darling's last Budget in spring 2010 and George Osborne's first.
Winding up the debate for Labour, shadow Treasury minister Kerry McCarthy said the bill "does a huge amount of damage".
Technology and a tight labour market have done more to break down the walls of the corporation than any amount of protest.
Labour, which has launched a consultation on the case for statutory limits on the amount of sugar and salt in children's food, said the government was "doing nothing" to tackle the obesity crisis among children.
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