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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