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A Historical Note: Does History Matter?

In: Internal Labour Markets, Incentives and Employment

Author

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  • Konosuke Odaka

Abstract

There are good reasons why social institutions, including the labour market, adopt specific forms and characteristics. The development of the Japanese labour market is a case in point and provides an interesting example of the formation and reformation of a social institution. This social institution was not entirely new to Japan in the year 1868 and in the process of development two types of transaction mechanism – ‘internal’ and ‘external’ labour markets – counteracted each other, with the balance of dominance shifting from one to the other. I shall illustrate this point with an example from the history of the machinery industry in Japan.

Suggested Citation

  • Konosuke Odaka, 1998. "A Historical Note: Does History Matter?," Palgrave Macmillan Books, in: Isao Ohashi & Toshiaki Tachibanaki (ed.), Internal Labour Markets, Incentives and Employment, pages 333-335, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-0-230-37797-4_13
    DOI: 10.1057/9780230377974_13
    as

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