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.
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Find related papers by 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