Labor Economics

Labor Economics

Labour economics seeks to understand the functioning and dynamics of the markets for labour. Labour markets function through the interaction of workers and employers. Labour economics looks at the suppliers of labour services (workers), the demands of labour services (employers), and attempts to understand the resulting pattern of wages, employment, and income.

In economics, labour is a measure of the work done by human beings. It is conventionally contrasted with such other factors of production as land and capital. There are theories which have developed a concept called human capital (referring to the skills that workers possess, not necessarily their actual work), although there are also counter posing macro-economic system theories that think human capital is a contradiction in terms.

Read more about Labor Economics:  Compensation and Measurement, Demand For Labour and Wage Determination, Macro and Micro Analysis of Labour Markets, The Macroeconomics of Labour Markets, Neoclassical Microeconomics of Labour Markets, Personnel Economics: Hiring and Incentives, Information Approaches, Search Models, Criticisms

Other articles related to "labor economics, economics, economic, labor":

Labor Economics - Criticisms
... economists, and Austrian School economists claim that labour economics tends to lose sight of the complexity of individual employment decisions ... rate regardless of the marginal utility from increased consumption or specific economic goals ... However, over the past 25 years an increasing literature, usually designated as the economics of the family, has sought to study within household decision making, including joint ...
James Heckman - Biography - Awards
... numerous awards for his work, including the John Bates Clark Medal of the American Economic Association in 1983, the 2005 and 2007 Dennis Aigner ... Award from the American Agricultural Economics Association, the Gold Medal of the President of the Italian Republic, awarded by the International Scientific Committee of the Pio Manz ... He is currently Associate Editor of the Journal of Labor Economics and the Journal of Applied Econometrics ...
Rudolf Rocker - Main - Political Activism
... as the employers always try to nullify every concession they had made to labor as soon as opportunity offered, as soon as any signs of weakness were ... influence of his uncle, he joined the SPD and became active in the typographers' labor union in Mainz ... Squatting Symbolism Terminology A las barricadas Economics Communization Co-operatives Counter-economics Economic democracy Economic secession Free store Gift economy Infoanarchism Market abolitionism Mutual aid ...
Orley Ashenfelter
... He is a professor of economics at Princeton University and also the director of the Industrial Relations Section at Princeton University ... His areas of specialization include labor economics, econometrics, and law and economics ... Department of Labor, a Guggenheim Fellow, and the Benjamin Meeker Visiting Professor at the University of Bristol ...
Personnel Economics
... Personnel economics has been defined as "the application of economic and mathematical approaches and econometric and statistical methods to traditional questions in human resources ... distinction, not always clearcut, is that studies in personnel economics deal with the personnel management within firms, and thus internal labor markets, while those in labor ... In addition, personnel economics deals with issues related to both managerial-supervisory and non-supervisory workers ...

Famous quotes containing the words economics and/or labor:

    The animals that depend on instinct have an inherent knowledge of the laws of economics and of how to apply them; Man, with his powers of reason, has reduced economics to the level of a farce which is at once funnier and more tragic than Tobacco Road.
    James Thurber (1894–1961)

    Nothing is hard for lovers, no labor is difficult for those who wish it.
    Jerome (c. 340–420)