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Pastimes : Austrian Economics, a lens on everyday reality

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To: gpowell who wrote (216)	5/5/2003 11:35:48 PM
From: Don Lloyd	Read Replies (1) of 445

gpowell, This isn't knew theory or particularly Austrian. Essentially what you are describing is a price negotiation between bi-lateral monopolies. OK. Please give me a reference wrt wages, not necessarily bi-lateral monopolies. As I see it the important question is not how the wage is determined, but why the companies are willing to pay it. The employees are essentially incidental to this negotiation, just accepting the highest bid. I don't perceive any particular Austrian content either, other than a basic acceptance of the essential non-homogeneousness of labor. Thanks, Don

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