The National Board for Prices and Incomes (P.I.B.) published a study of the resource costs of mining labour as an annex to one of its Coal Price reports . This illustrated how a divergence between private and social costs might arise in the labour market, and outlined some approaches to this situation. First, let us briefly follow the P.I.B.’s approach and then examine some of the assumptions involved in its analysis.
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Suggestions for Further Reading
- NATIONAL BOARD FOR PRICES AND INCOMES, Coal Prices (Second Report), no. 153, Cmnd. 4455 (London: H.M.S.O., 1970). See also the reading suggested at the end of Chapters 6, 7, 8 and 9.Google Scholar