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Noah Smith: "Why the 101 model doesn't work for labor markets" - Hallo friend WELCOME TO AMERICA, In the article you read this time with the title Noah Smith: "Why the 101 model doesn't work for labor markets", we have prepared well for this article you read and download the information therein. hopefully fill posts Article AMERICA, Article CULTURAL, Article ECONOMIC, Article POLITICAL, Article SECURITY, Article SOCCER, Article SOCIAL, we write this you can understand. Well, happy reading.

Title : Noah Smith: "Why the 101 model doesn't work for labor markets"
link : Noah Smith: "Why the 101 model doesn't work for labor markets"

Noah Smith: "Why the 101 model doesn't work for labor markets"

At Noahpinion:

A lot of people have trouble wrapping their heads around the idea that the basic "Econ 101" model - the undifferentiated, single-market supply-and-demand model - doesn't work for labor markets. To some people involved in debates over labor policy, the theory is almost axiomatic - the labor market must be describable in terms of a "labor supply curve" and a "labor demand curve". If you tell them it can't, it just sort of breaks their brain. How could there not be a labor demand curve? How could there not be a relationship between the price of something and how much of it people want to buy?

Funny thing is this is pretty similar to what Sandwichman is saying in Boundless Thirst for Surplus-Labor. The "lump of labor" is a partial equilibrium model and rebuttals to the "fallacy" also invariably rely on partial equilibrium models. They are both wrong.

At Noahpinion:

A lot of people have trouble wrapping their heads around the idea that the basic "Econ 101" model - the undifferentiated, single-market supply-and-demand model - doesn't work for labor markets. To some people involved in debates over labor policy, the theory is almost axiomatic - the labor market must be describable in terms of a "labor supply curve" and a "labor demand curve". If you tell them it can't, it

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just sort of breaks their brain. How could there not be a labor demand curve? How could there not be a relationship between the price of something and how much of it people want to buy? Funny thing is this is pretty similar to what Sandwichman is saying in Boundless Thirst for Surplus-Labor. The "lump of labor" is a partial equilibrium model and rebuttals to the "fallacy" also invariably rely on partial equilibrium models. They are both wrong.

Thus articles Noah Smith: "Why the 101 model doesn't work for labor markets"

that is all articles Noah Smith: "Why the 101 model doesn't work for labor markets" This time, hopefully can provide benefits to all of you. Okay, see you in another article posting.

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