The Micro-Economics of "Surplus Labour"
AbstractThis paper examines the apparent conflict between the classical assumption of a bargaining agricultural sector wage and the neo-classical assumption of a competitive wage in the context of a labour surplus developing economy. It concludes that the relatively inelastic supply of labour hours offered by low income small or landless farmers in the static micro-economic leisure/work context is perfectly consistent with the persistence for some time of an institutional real wage offered to the non-agricultural sector of the dual economy. Empirical evidence is brought to bear in support of that position.
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Bibliographic InfoPaper provided by Yale - Economic Growth Center in its series Papers with number 772.
Length: 17 pages
Date of creation: 1997
Date of revision:
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Web page: http://www.econ.yale.edu/~egcenter/
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WAGES ; FARMS ; DEVELOPING COUNTRIES;
Find related papers by JEL classification:
- Q12 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets
- Q1 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture
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