16. Input Markets II—Labor and Capital

MIT 14.01 Principles of Microeconomics, Fall 2018
Instructor: Prof. Jonathan Gruber

This lecture continues to explore factor markets, using minimum wage and the labor market as an example.

License: Creative Commons BY-NC-SA

[trent]

A lot of insight in this lecture. This explains why companies want to keep employees ignorant about wages. Any business that is currently complaining "no one wants to work" needs to understand the reality we live in now: workers are getting vastly more information about their options and are saying "no thanks" to your paltry wages.

[ayrian]

Great content once again. Really insightful about the reality of labor market, especially with his own example in the academia.

[brainstormingsharing]

Absolutely well done and definitely keep it up!!! 👍👍👍👍👍

[niravjethva]

Great Professor, thank you for the wisdom Sir.

[square_waves]

"Happily work" is kinda loaded there. Like yeah there are people who would take that deal, but people often willingly take deals they aren't happy about.

[amybio]

This is amazing! Please do more videos like this :)

[marwinsteiner]

Interesting how MIT Microecon lectures are only 50 minutes long.

[stellaarcher]

And that is why people need to talk about what they earn