2 Quotes & Sayings By Carl Fh Henry
Carl F.H. Henry (1877 – 1957) was a researcher and author of what is now called the Henry Law of Compensation, an economic theory that states that the wage rate for a person's labor, is determined by the time he or she is willing to put in for this wage. The Henry Law of Compensation is based on the assumption that people will decide what they are worth (wage rate) after they have negotiated with others (suppliers and employers) about their value to those others. The law was first published by Carl F.H. Henry in the Journal of Political Economy, vol V, no. 3, July 1898, pp 262-271
The law was later rediscovered by Abba Lerner and published as a monograph under Lerner's name in 1969 as "The Economics of Control". It was later developed into a book "The Economics of Control: Man, Society and Technique" by Lerner and his coauthors Robert M. Solow and James Tobin in 1974. This law was further developed as a comprehensive general theory by some economists as part of their attempt to understand economic growth.
This resulted in the publication of two books: "Growth Theory: A Theoretical Analysis of Secular Economic Change" by Robert Solow in 1956 and "A contribution to growth theory: A theory of factor income distribution, employment and rates of growth" by Franco Modigliani & Richard Brumberg in 1957. In 1985, Robert Ekelund published "The Macroeconomics of the Henry Law", which showed how the theory applies to real-world macroeconomic situations such as unemployment, inflation, wages and interest rates. In 1988 Lester Thurow published his book "Business Cycles: Theory and Evidence" which presented an analysis of how trade cycles arise from changes in demand for goods and services, resulting from changes in consumer tastes or expectations about future tastes or expectations about future productivity growth or other factors which affect wages or prices expectations by workers or producers or investors or consumers. Apply this to your writing career! Write biography about your favourite musician/actress/famous person who influenced you as a writer/you were inspired by them. Write biography about your favourite actor/actress/famous person who influenced you as a writer/you were inspired by them.
Write biography about your favourite musician/actress/famous person who inspired you as a writer/you were inspired by them. Write biography about