AM09 Marg Prod

This covers chapter 8 of Hill & Myatt on Marginal Productivity theory, which says that you get paid what you are worth. That is, all factors receive payment according to their contribution to production. This argument is very wrong for many reasons. These reasons are discussed in the Anti-Textbook, and further explained in the lecture.
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Textbook theory says that all factors of production get what they deserve, in terms of their contribution to production. Anti-textbook explains why this is wrong.  Oct 17, 2017, 3:39 AM Asad Zaman
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Lecture Slides  426k v. 1 Oct 17, 2017, 3:40 AM Asad Zaman
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Empirical Evidence that pay comes from POWER and not from PRODUCTIVITY  Nov 5, 2017, 7:50 AM Asad Zaman
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Again shows that laborers are not getting their marginal products  Nov 5, 2017, 7:55 AM Asad Zaman
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