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Long Run Demand For Labour In The Consumer Good Industry

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  • Ian Steedman

Abstract

We consider, for alternative models of production, the comparative statics of constant‐returns economies in long run competitive equilibrium, for which reswitching, capital‐reversing and consumption‐reversal are all completely absent. Notwithstanding the ‘well‐behaved’ nature of these economies, the use of labour per unit of output in the consumer good industry is always positively related to the real wage rate.

Suggested Citation

  • Ian Steedman, 2006. "Long Run Demand For Labour In The Consumer Good Industry," Metroeconomica, Wiley Blackwell, vol. 57(2), pages 158-164, May.
    • Handle: RePEc:bla:metroe:v:57:y:2006:i:2:p:158-164
    DOI: 10.1111/j.1467-999X.2006.00237.x
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    1. Nuti, Domenico Mario, 1970. "Capitalism, Socialism and Steady Growth," Economic Journal, Royal Economic Society, vol. 80(317), pages 32-57, March.
    2. Bidard,Christian, 2011. "Prices, Reproduction, Scarcity," Cambridge Books, Cambridge University Press, number 9780521180191, October.
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