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Organisation of the Labour Market, Labour Legislation, and Social Insurance

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  • Jean-Pierre Potier

    (Lumière University Lyon 2)

Abstract

At the end of his life, in the speech delivered for his fiftieth anniversary as an economist at the University of Lausanne, Léon Walras remarked: First, it is clear that wage determination by means of strikes and lock-outs, i.e., ultimately, by throwing stones against gunshots, is a barbarian behaviour. But it is also clear that for the purpose of replacing it by the determination of prices of various kinds of work with the mechanism of outbiddingOutbidding/underbidding mechanism, enchère/rabais and underbidding (enchères et rabais), mathematical pure economics would be absolutely necessary (1909c, vol. VII, p. 510).

Suggested Citation

  • Jean-Pierre Potier, 2025. "Organisation of the Labour Market, Labour Legislation, and Social Insurance," Springer Studies in the History of Economic Thought,, Springer.
    • Handle: RePEc:spr:spshcp:978-3-032-04670-3_14
    DOI: 10.1007/978-3-032-04670-3_14
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