Journal article

Labour markets, firms and institutions: Labour economics and industrial relations

P Gahan, T Harcourt

Journal of Industrial Relations | Published : 1998


The study of tbe employment relation has always held a somewhat ambiguous position within the field of economics. The nature of labour market adjustment processes and unique aspects of the employment relation have posed problems for standard economic theories and have limited the use of formal modelling. Moreover, institutionalist approaches have been a greater challenge to labour economists than in any other area of enquiry within the discipline (Jacoby, 1990). Traditionally, this difference has been manifest in a clear distinction between labour economics and industrial relations as separate fields of study. The artificiality of such a distinction, we argue, poses problems for understandin..

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