Labour economics  

From The Art and Popular Culture Encyclopedia

(Redirected from Labour (economics))
Jump to: navigation, search

Related e

Google
Wikipedia
Wiktionary
Wiki Commons
Wikiquote
Wikisource
YouTube
Shop


Featured:
Train wreck at Montparnasse (October 22, 1895) by Studio Lévy and Sons.
Enlarge
Train wreck at Montparnasse (October 22, 1895) by Studio Lévy and Sons.

Labour economics seeks to understand the functioning and dynamics of the market for labour. Labour markets function through the interaction of workers and employers. Labour economics looks at the suppliers of labour services (workers), the demanders 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.

See also





Unless indicated otherwise, the text in this article is either based on Wikipedia article "Labour economics" or another language Wikipedia page thereof used under the terms of the GNU Free Documentation License; or on original research by Jahsonic and friends. See Art and Popular Culture's copyright notice.

Personal tools