Abstract
As Rhonda Williams observes in the lead chapter in this volume, modern labor economics has become, for the most part, an extensive branch of applied microeconomics. Williams’ observation has been echoed by Paul McNulty (pp. 260–1) who, in an interesting recent study of the history of labor economics, made the following comment
Perhaps the most fundamental point to be made about the current state of labor economics is that at no other time in the history of the field has it been more closely aligned with its parent discipline. The study of labor by economists is generally characterized by the same analytical approach that their colleagues are bringing to bear upon problems in other subdivisions of the field: the formulation of hypotheses based generally on observations consistent with economic theory and empirically tested with econometric techniques applied to such data as are available.
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Darity, W. (1984). Reflections on the State of the Art in Labor Economics. In: Darity, W. (eds) Labor Economics: Modern Views. Recent Economic Thought Series, vol 4. Springer, Dordrecht. https://doi.org/10.1007/978-94-009-5636-0_1
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