At the outset of the industrial revolution the Lancashire labour
market was a model of thoroughgoing competition. Wages adjusted
quickly and smoothly to changes in the demand for and supply of
labour. Within two generations, however, workers and firms had
retreated from the market. Instead of busting wages, firms paid
fixed rates; instead of breaking ties on short notice, workers
sought longer-term associations. Social norms - doing the right
thing - protected and preserved the fresh labour market
arrangements. This book explains the causes and effects of changes
in the labour market in the context of developments in labour
economics and fresh research in social and economic history.
General
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