Labour (economics)
Earnings of a company
Merit
Labour economics Merit pay is a term describing performance-related pay, most frequently in the context of educational reform. It provides bonuses for workers who perform their jobs effectively, according to measurable criteria. In the United States, policy makers are divided on whether merit pay should be offered to public school teachers, as is commonly the case in the United Kingdom.
Labor economics seeks to understand the functioning and dynamics of the market for labor. Labor markets function through the interaction of workers and employers. Labor economics looks at the suppliers of labor services (workers), the demands of labor services (employers), and attempts to understand the resulting pattern of wages, employment, and income.
In economics, labor is a measure of the work done by human beings. It is conventionally contrasted with such other factors of production as land and capital. There are theories which have developed a concept called human capital (referring to the skills that workers possess, not necessarily their actual work), although there are also counter posing macro-economic system theories that think human capital is a contradiction in terms. Contents
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1 Compensation and measurement
2 Demand for labour and wage determination
3 Two ways of analysing labour markets
4 The macroeconomics of labour markets
5 Neoclassical microeconomics of labour markets
5.1 Neoclassical microeconomic model — Supply
5.2 Neoclassical microeconomic model — Demand
5.3 Neoclassical microeconomic model — Equilibrium
6 Information approaches
7 Search models
8 Criticisms of labor economics and recent research
9 See also
10 Notes
11 References
12 External links
Earnings
>From Wikipedia, the free encyclopedia
http://en.wikipedia.org/wiki/Earnings
Earnings are the net benefits of a Corporation's operation.[1] Earnings is also the amount on which corporate tax is due. For an analysis of specific aspects of corporate operations several more specific terms are used as EBIT -- earnings before interest and taxes, EBITDA - earnings before interest, taxes, depreciation, and amortization.
Many alternative terms for earnings are in common use, such as income and profit. These terms in turn have a variety of definitions, depending on their context and the objectives of the authors. For instance, the IRS uses the term profit to describe earnings, whereas for the corporation the profit it reports is the amount left after taxes are taken out. Many economic discussions use principles derived from Karl Marx [2] and Adam Smith.[3] However the rise of the importance of intellectual capital [4] affects such analyses. [edit] Routine earnings
Routine earnings or commodity-based earnings are those that can be achieved by application of assets that are those that can be achieved by any business that employs sufficient capital and manpower. These conditions are commonly assumed in economic analyses of profit (economics) [edit] Non-routine earnings
The use of intellectual property generates non-routine profits. Those are often an order-of-magnitude greater than routine earnings.[5] Non-routine profits are essential to warrant the high investments needed for high-technology industries.
MMerit pay is a term describing performance-related pay, most frequently in the context of educational reform. It provides bonuses for workers who perform their jobs effectively, according to measurable criteria. In the United States, policy makers are divided on whether merit pay should be offered to public school teachers, as is commonly the case in the United Kingdom.