former president candidate patrick J buchanan has argued, " the US labor
supply has grown by more...

Question

former president candidate patrick J buchanan has argued, " the US labor
 supply has grown by more tens of millions in the past twenty five years
 than in any other period in history.How could the price of labor not fall? answer Buchanan's question: If there is an increase in labor supply, does the equilibrium wage have to fall?

Robert · Accepted Answer

Former president candidate patrick J buchanan has argued, " the US labor supply has grown by 
more tens of millions in the past twenty five years than in any other period in history. 
How could the price of labor not fall?  
Answer: 
Though labor supply has grown by more tens of millions in the past twenty five years, the 
increase (in labor supply) has not caused fall in price of labor because the labor demand has also 
increased in the corresponding years along with nation’s development and growth.

former president candidate patrick J buchanan has argued, " the US labor supply has grown by more tens of millions in the past twenty five years than in any other period in history. How could the...

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