Flexibility and institutions in labour markets
DOI link for Flexibility and institutions in labour markets
Flexibility and institutions in labour markets book
The common theme running through this chapter is that the theory of markets in general, and labour markets in particular, requires consideration of the impact of non-market factors. Traditional supply and demand analysis, however sophisticated, is unacceptable when non-market relationships slip into the background and, ultimately, beyond the horizon. The market and non-market interact and mutually condition one another. Neither one can be legitimately taken as exogenous in order to examine the other.