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The Micro-Economics of "Surplus Labour"

Author

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  • Ranis, G.

Abstract

This 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.

Suggested Citation

  • Ranis, G., 1997. "The Micro-Economics of "Surplus Labour"," Papers 772, Yale - Economic Growth Center.
  • Handle: RePEc:fth:yalegr:772
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    Cited by:

    1. Haagh, Louise, 2011. "Working Life, Well-Being and Welfare Reform: Motivation and Institutions Revisited," World Development, Elsevier, vol. 39(3), pages 450-473, March.

    More about this item

    Keywords

    WAGES ; FARMS ; DEVELOPING COUNTRIES;

    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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