Labor Market Disputes: A Comment on Albert Rees’ ‘Fairness in Wage Distribution’
Journal of Interdisciplinary Economics, Vol. 7, 1996
22 Pages Posted: 15 Jul 2011
Date Written: July, 13 2011
Albert Rees criticizes neo classical labor economics for paying too little attention to fairness and utility function interdependence. As a result, he claims, this theory cannot fully come to grips with wage determination as it actually exists in the real world. The present author takes issue with Rees, and attempts to defend traditional labor economics against his criticisms.
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