The Labour Market


The concept of labor covers many aspects. Discover the labor market in a fictional country where an industry is faced with a shock of innovation. What then makes the adjustment of supply and demand work? What are the different types of public policies most often considered? What are the consequences of this adjustment and policies for workers, for businesses and for the State?

Source: Banque de France – Cité de l’Économie et de la Monnaie, in partnership with Universcience (This film is currently featured in the exhibition “All you need to know about Eco­nomics” At the Cité des sciences)

Also, Women Reach a Milestone in Job Market (

Women have recovered all the jobs they lost during the recession. Men have not. A record 67.5 million women are working today, up from the prior peak of 67.4 million in early 2008, according to the Labor Department’s latest tally of payrolls that captured the full rebound for the first time.


How can you improve your grades? Marginal Gains!

David Brailsford has been credited with masterminding cycling Olympic medals and Tour de France victories.  His secret is concentrating on the minor detail.  Aggregate or combine these minor details and reap the benefits.  It’s the difference between competing and finishing on the podium; gold and silver; pass and fail; A and B grades in your exams.

How can you make these small, but highly significant differences?  Where can you make these 1% changes?  See me for a checklist.


Cheap labour in developing countries is an issue that has been facing the labour market for quite a while now, with some labour working in conditions similar to that of modern-day slavery, while others get lavish benefits from their jobs such as luxury cars and mobile phones.

Here’s more on the mistreatment of labour:

mistreatment of labout

Will the economy grow forever?

If economic growth is the increase in the total production of goods and services within an economy, i.e a real percentage increase in GDP – will this growth last forever? After all, we do live in a world with finite resources. More importantly, is this time nearing? How far away are we from reaching the maximum potential of world GDP? Will we always find more efficient methods, or find new renewable sources of basic necessities?


Monetary Policy. An exact science?

Further to Mashiat’s post about the MPC setting interest rates.  Mark Carney yesterday commented on how increased pressure in the housing market and falling unemployment wouldn’t necessarily cause interest rates to rise.  We know that managing the macro economy is akin to driving down the 30 in reverse, with all the windows blacked out, and a 20 second delayed reaction to braking and accelerating.   So what is the criteria the MPC consider before changing interest rates?

bank of england interest rate changes                               the governor


Sport is big business.  Olympic champions, hosting the World Cup, sponsoring an athlete to wear a branded piece of apparel, and such like, can have huge economic implications for a region, country or firm.  The stakes are high so it stands to reason that winning becomes a be all in itself.  Isn’t consuming an energy gel and having a blood transfusion to enhance performance ultimately an extension of the same behaviour?  The motivation is obvious but surely consumption of performance enhancing substances is a form of cheating?  Is this wrong?  A sporting event is above all else a spectacle. If it wasn’t what would drive the financing?  Therefore anything that enhances performance and therefore the utility of the audience should be encouraged.  The economics would suggest so.  What do you think?

a price to pay          the doping dilemma       speedo     testing of little use in the future                 no advantages       lance armstrong    why is marijuana banned?     i want to be entertained