L8 Labor

This lecture shows how fundamentally wrong the standard theory of labor is

Review of Classical Theory of Labor Market (which is the same as the neoclassical theory)

1: The (Derived) Demand for labor by firms

2: The Supply of Labor

3: The Equilibrium

Transcript Revised & Summary Under Preparation:

L08: Labor (Adv Micro) original website - For Reference ONLY - this page is BETTER, with more material and links.

Dropbox Link to Revised Transcript - Currently Revisions are under way -- summary under preparation. Possibly CUT video into parts - corresponding to points covered in summary

Adv Mic L8: 70 years of failure by economists to understand the labor market - Lecture shows how the empirical evidence contradicts the theory of labor market currently being taught in textbooks.