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The Origins and Development of Labor Economics

Author

Listed:
  • Paul J. McNulty

    (Columbia University)

Abstract

Since economics emerged as a distinct field of inquiry, no other single factor has occupied so central an analytical role as labor. A review in the library journal, Choice, noted that this book "does for labor in the history of economic thought what Joseph A. Schumpeter's History of Economics Analysis did more generally for the whole of economics." Beginning with the origins of labor economics in medieval times, the book discusses the primacy of labor in the thinking of classical economists, and its separation from mainstream economics in the nineteenth century. It concludes with the "modern synthesis" of labor studies with economic theory marked by the development of human capital theory and the increasing integration of economic theory and market analysis in interdisciplinary institutional and industrial relations approaches to the study of labor.

Suggested Citation

  • Paul J. McNulty, 1984. "The Origins and Development of Labor Economics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262630974, December.
    • Handle: RePEc:mtp:titles:0262630974
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    Cited by:

    1. Ellen Mutari & Deborah Figart & Marilyn Power, 2001. "Implicit Wage Theories in Equal Pay Debates in the United States," Feminist Economics, Taylor & Francis Journals, vol. 7(2), pages 23-52.

    More about this item

    Keywords

    labor economics; human capital theory;

    JEL classification:

    • J01 - Labor and Demographic Economics - - General - - - Labor Economics: General
    • B1 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925
    • B2 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925

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