Sunday, September 21, 2014

Something we will talk about on Tuesday

First, we'll briefly mention Atul Gawande's famous essay about infection and hand washing.   It has fundamentally changed how medicine is conducted.  It is not an economics paper at all, but it is a demonstration of how inefficiency manifests in ordinary business practices.

Later we''ll consider this paper by Arthur Okun, which is quite readable by you and gives a good articulation of the implicit contracts view of the labor market as co-insurance based on loyalty between the firm and its employees.

You should have access to this paper if you are on the Campus Network.

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