12. Introduction 36
Stylized history 38
Structure of the argument 41
The difference that it means 42
13. Unemployment via taxes and minimum wage 43
The earnings distribution 44
Analysing the minimum wage 44
The Tax Void 47
Cause of the Tax Void 48
Development of the Tax Void 51
Marginal tax rate & VAT 53
Marginal tax rate & dynamics 54
Spillover and domino effects 56
Diagnosis and Therapy 56
Stagflation resolved 57
14. The 1974 Duisenberg disaster 59