Search results
Results from the WOW.Com Content Network
In economic theory, several authors have argued that employment protection can be desirable when there are frictions in the working of markets. For example, Pissarides (2001) and Alvarez and Veracierto (2001) show that employment protection can play an important role in the absence of perfect insurance markets.
Labour economics seeks to understand the functioning and dynamics of the markets for wage labour. Labour is a commodity that is supplied by labourers, usually in exchange for a wage paid by demanding firms.
Full Employment and Balanced Growth Act; Long title: An Act to translate into practical reality the right of all Americans who are able, willing, and seeking to work to full opportunity for useful paid employment at fair rates of compensation; to assert the responsibility of the Federal Government to use all practicable programs and policies to promote full employment, production, and real ...
The case against harmonised international labour rights makes the point that the amount of child labour in a country is directly dependent on its level of economic development. [6] Following this line of reasoning, poorer countries have a better chance at abolishing child labour through economic development rather than minimum age requirements.
Economic law is a set of legal rules for regulating economic activity. [ 1 ] [ 2 ] Economics can be defined as "a social science concerned with the production, distribution, and consumption of goods and services."
The Talmudic law—in which labour law is called "laws of worker hiring"—elaborates on many more aspects of employment relations, mainly in Tractate Baba Metzi'a. In some issues the Talamud, following the Tosefta, refers the parties to the customary law: "All is as the custom of the region [postulates]".
The law states that full employment is one of four economic goals, in concert with growth in production, price stability, balance of trade, and budget, and that the US shall rely primarily on private enterprise to achieve these goals.
Law and economics, or economic analysis of law, is the application of microeconomic theory to the analysis of law. The field emerged in the United States during the early 1960s, primarily from the work of scholars from the Chicago school of economics such as Aaron Director , George Stigler , and Ronald Coase .