Jobs and People

John Grieve Smith

Chapter 8 in Full Employment: A Pledge Betrayed, 1997, pp 149-167 from Palgrave Macmillan

Abstract: Abstract The predominance of monetarist thinking in recent years has been associated with a revival of the prewar view that the cure for unemployment lies in ‘the labour market’. rather than in strengthening the demand for goods and services. The phrase ‘the labour market’ often seems one of the economic profession’ more unhappy pieces of jargon. It conjures up visions of people being auctioned like cattle, or of agricultural workers in the nineteenth century coming to the County Town for the Michaelmas hiring, and in doing so suggests that, if the price for tiheir labour was right, everyone would get a job. But as we saw earlier, the supply and demand for labour is different from that for anything else, in that the receipts from selling labour (i.e. wages and salaries) are a major component of the demand for it (or the goods that labour is needed to produce).

Keywords: Labour Market; Real Wage; Full Employment; Unskilled Labour; Labour Force Survey (search for similar items in EconPapers)
Date: 1997
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-37238-2_8

Ordering information: This item can be ordered from
http://www.palgrave.com/9780230372382

DOI: 10.1057/9780230372382_8

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().