MHR 711 Lecture Notes - Lecture 1: Bourgeoisie, Absenteeism, Free Market
7 Feb 2016
School
Department
Course
Professor
Document Summary
Theory that addresses government and unions as job killing. Uses the classical ideas of supply and demand. The equilibrium in demand and supply is self-reinforcing (it just happens) as people are self interested they will eventually adjust prices. Neoliberal says wherever the equilibrium let it be, that is the natural state. Increases the power of labor driving wages up. A rule should be instated addressing free labor and internships. If the match no longer suits you are free to exit. Largely leaving up issues to the free market. Perfect competition: enough competitor for alternatives for buyers. So no single company can adjust prices. Buyers/ customers will find an alternative that will result in the company"s inability to sell things at higher cost pay people at lower cost. Perfect mobility: not everyone can respond to self-advancement, there are restriction (costs) **individuals are rational and will move whatever the equilibrium.
