Arbeitspapier
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' intersectoral growth ultimately permits the entire economy to operate on neo-classical principles. Finally, the paper introduces open economy dimensions, indicates the existence of other labor surplus sub-sectors and briefly responds to neo-classical critiques on both theoretical and empirical grounds.
- Sprache
-
Englisch
- Erschienen in
-
Series: Center Discussion Paper ; No. 900
- Klassifikation
-
Wirtschaft
Economic Development: General
Microeconomic Analyses of Economic Development
Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
- Thema
-
Development Theory
Labor Markets
Arbeitsmarkt
Landwirtschaft
Unterbeschäftigung
Gleichgewichtiges Wachstum
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Ranis, Gustav
- Ereignis
-
Veröffentlichung
- (wer)
-
Yale University, Economic Growth Center
- (wo)
-
New Haven, CT
- (wann)
-
2004
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Ranis, Gustav
- Yale University, Economic Growth Center
Entstanden
- 2004
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