ABSTRACT
The neoclassical model is, however, built around the concept of equilibrium when all changes lie in the distant past. Ultraorthodox economists and members of the conservative network argue that the inside or outside disparity is a sign of imperfections in the labor market, such as the existence of unions, minimum wages, and labor-market regulations. Markets where the personal attention of a provider is an essential part of the service are generally "winner takes all"—or at least, "winners are grinners". Milton Friedman's proposed solution was to attack inflation by controlling the money supply and to take no account of the rising unemployment that this caused. Unemployment, he argued, should be allowed to reach its "natural" or Non Accelerating Inflation Rate of Unemployment level. Institutions of various kinds provide education and training, some of it free to the student, some of it subsidized, and some where the enrolled students are expected to pay the fully allocated cost, possibly including a substantial profit.
