منابع مشابه
Labor Surplus Economies
The labor surplus economy model has as its basic premise the inability of unskilled agricultural labor markets to clear in countries with high man/land ratios. In such situations, the marginal product of labor is likely to fall below a bargaining wage, related to the average rather than the marginal product. The reallocation of such disguisedly unemployed workers by means of “balanced” intersec...
متن کاملLabor Surplus Revisited
Unskilled labor is the abundant resource in many developing countries, especially at an early stage of their development. Yet, even as at given technologies labor markets have not cleared, neo-classical economists have rejected the notion of an institutional or bargaining wage not based on competitive full employment marginal productivity fundamentals. This paper puts to rest some objections to...
متن کاملThe Micro-economics of “surplus Labor”
This paper examines the apparent conflict between the classical assumption of a bargaining agricultural sector wage and the neo-classical assumption of a competitive wage in the context of a labor surplus developing economy. It concludes that the relatively inelastic supply of labor hours offered by low income small or landless farmers in the static microeconomic leisure/work context is perfect...
متن کاملOn the Dynamic Properties of the Labor-Surplus Economy
The dynamic properties of the optimal growth model are examined, based on a one good and two factor-labor and capital--model with a labor-surplus economy due to a fixed wage rate. If the average capital productivity is higher than the time discount rate which is assumed to be larger than the population growth rate, then the economy reaches the full employment stationary state in a finite amount...
متن کاملIs There Surplus Labor in Rural India?
We show empirically using panel data at the plot and farm level and based on a model incorporating supervision costs, risk, credit-market imperfections and scale-economies associated with mechanization that small-scale farming is inefficient in India. Larger farms are more profitable per acre, more mechanized, less constrained in input use after bad shocks, and employ less per-acre labor than s...
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ژورنال
عنوان ژورنال: The ANNALS of the American Academy of Political and Social Science
سال: 1893
ISSN: 0002-7162,1552-3349
DOI: 10.1177/000271629300300507