Guide to the Web for Economics
CHAPTER 14
Factor Markets
Factor markets refer to the market for the factors of
production, land, labor, capital, and entrepreneurial ability. These
inputs are supplied by individuals and demanded by businesses. The
quantity of inputs a firm will hire and the price paid for the use of
inputs is based on the demand and supply of the inputs. Particular
attention is given here to the labor input since wage and employment
issues directly affect all members of society. Web resources in this
chapter link to information about: wages and employment issues,
government regulation in labor markets, the hotly debated minimum
wage issue, and about labor unions and their history. The topics are
organized as follows:
Labor and Workplace Issues
- Outcomes
of Education
- Type: publication Level: intermediate Length:
long Links: yes Graphics: yes Other: pdf
- Page from the Digest of Education Statistics 1997
compares educational attainment and work force characteristics.
Full publication is downloadable in pdf format by clicking on
the home link.
- http://nces.ed.gov/pubs/digest97/d970005.html#outcomes
- Real Median
Wages
- Type: publication Level: intermediate Length:
long Links: yes Graphics: yes Other: pdf
- Site contains an analysis of the Current Population
Survey through the first quarter of 1999. Article looks at
recent changes in unemployment, underemployment, and real wages
by race, education, and occupational class.
- http://www.epinet.org/qwes/qwes.html
- Benefit
Fundamentals
- Type: publication Level: intermediate Length:
short Links: yes Graphics: yes Other: search
- Site from the Employee Benefit Research Institute links to
selected chapters from an EBRI publication, Fundamentals of
Employee Benefit Programs. Chapters explain employee
benefit programs, covering Social Security, Medicare, pension
plans, and more.
- http://www.ebri.org/benfunds.htm
- Industry
Employment
Government and
Labor
- National Labor Relations
Board
- Type: list Level: basic Length:
short Links: yes Graphics: yes
- Home page for the NLRB that contains a wealth of
information about the independent Federal agency and links to
its rules and regulations for union elections, press releases,
forms, and much more.
- http://www.nlrb.gov/
- Davis-Bacon
Act
- Type: list Level: basic Length:
short Links: yes Graphics: yes Other: search
- Page from the Lectric Law Library summarizes the
Davis-Bacon Act of 1931. This fact sheet from the Department of
Labor highlights issues such as the Acts coverage, the
prevailing wage, overtime and violations.
- http://192.41.4.29/files/emp16.htm
- Occupational
Safety and Health
- Type: list Level: basic Length:
short Links: yes Graphics: yes Other: search
- Site from the U.S. Department of Labor's Small Business
Handbook describes the Occupational Safety and Health Act of
1970, outlining the basic provisions/requirements, who is
covered, employee rights, workplace inspections, penalties, and
more.
- http://www.dol.gov/dol/asp/public/programs/handbook/osha.htm
- OSHA
- Type: list Level: basic Length:
short Links: yes Graphics: yes Other: search
- Home page for the Occupational Safety and Health
Administration providing links to a wealth of information about
OSHA, its regulations, publications, and more.
- http://www.osha.gov/
- OSH
Act of 1970
- Type: list Level: basic Length:
short Links: yes Graphics: yes Other: pdf/search
- Site lists all 34 sections of the Occupational Safety and
Health Act of 1970 as amended in 1998. Page provides direct
links to view and/or download the full text of the document.
- http://www.osha-slc.gov/OshAct_toc/OshAct_toc_by_sect.html
- Minimum
Wage Laws in the States
- Type: table Level: basic Length:
long Links: yes Graphics: yes
- Site from the U.S. Department of Labor has a color-coded
map of the U.S. showing states with no minimum wage law and
those with minimum wages equal to, greater than, and less than
the Federal minimum wage law. Page also includes a handy table
listing the minimum wage rate in each state.
- http://www.dol.gov/dol/esa/public/minwage/america.htm
Minimum Wage: Support FOR
Increasing
- Minimum
Wage Site
- Type: list Level: basic Length:
short Links: yes Graphics: yes Other: pdf
- Site from the Department of Labor includes direct links to
questions and answers about the minimum wage and the history of
the minimum wage, including how it was first enacted and
downloadable charts of changes in the minimum wage in both
nominal and real terms.
- http://www.dol.gov/dol/esa/public/minwage/main.htm
- Making Work
Pay
- Type: publication Level: basic Length:
short Links: yes Graphics: no
- Page contains an executive summary of a publication by the
Economic Policy Institute that offers an analysis of the
1996-97 minimum wage increase, arguing that increase boosted
earnings of low-wage workers without lowering their employment
opportunities.
- http://epinet.org/studies/stmwp.html
- New
Minimum Wage Increase
- Type: publication Level: basic Length:
long Links: yes Graphics: yes Other: pdf
- Site contains an April 1999 publication by the Economic
Policy Institute that argues in favor of a proposed increase in
the minimum wage from $5.15 to $6.15 by September 2000. Page
links to tables and a downloadable pdf version of the article.
- http://epinet.org/Issuebriefs/Ib130.html
- Key
Facts about the Minimum Wage
- Type: writing Level: basic Length:
short Links: yes Graphics: no Other: search
- Site contains a brief summary of writings by several
supporters of raising the minimum wage. Page links to the
AFL-CIO home page and document search engine.
- http://www.paywatch.org/publ/press98/pr0915a.htm
- Low-Wage
Workers Deserve Another Raise
- Type: writing Level: basic Length:
short Links: yes Graphics: no Other: search
- Site from the Workers of America gives a brief history of
the minimum wage and offers the WOA view on the impact of the
minimum wage on jobs, teenagers, fairness, and more.
- http://www.woa.org/issues/minimum.htm
- Oregon Minimum
Wage Increases
- Type: report Level: intermediate Length:
long Links: yes Graphics: yes
- Page contains a 1998 report on the impacts of Oregon's
minimum wage increases. Though not a controlled study, findings
indicate that minimum wage increases raised the incomes of many
parents who left welfare for work.
- http://www.cbpp.org/529ormw.htm
Minimum Wage:
Arguments AGAINST Increasing
Labor Unions
- Early History
of Unions
- Type: writing; Level: basic; Length: short; Links: yes; Graphics: yes
- A brief history of the United Association Local 38 union
with links to related history topics, including information
about the beginnings of the U.S. labor movement with the
formation of a guild of coopers & shoemakers in Boston in
1648.
- http://www.ualocal38.org/hist.htm
- Knights
of Labor
- History
of U.S. Federal Labor Laws
- Union
Membership
- Work
Stoppages
- AFL-CIO Home
Page
- Type: list Level: basic Length:
short Links: yes Graphics: yes
- Page gives information about U.S. labor movement, including
recent announcements, public documents, press releases,
speeches, and much more.
- http://www.aflcio.org/home.htm
- Teamsters Union
- Type: list; Level: basic; Length: short; Links: yes; Graphics: yes
- Home page for the International Brotherhood of Teamsters
includes links to information about the union, its leadership,
publications, political action, news releases, and more.
- http://www.teamster.org/
- UAW
- Type: list; Level: basic; Length: short; Links: yes; Graphics: yes
- Home page for the United Auto Workers international union
with links to information about the union, its history, news
releases, publications, political action alert, frequently
asked questions, and more.
- http://www.uaw.org/
- Workers of America
- Type: writing/list; Level: basic; Length: short; Links: yes; Graphics: yes
- Home page for the labor organization, Workers of America,
with links to information about its mission, news releases,
pending legislation before Congress, state government and news
organizations, and more.
- http://www.woa.org/
- American Postal Workers
Union
- Type: list; Level: basic; Length: short; Links: yes; Graphics: yes; Other: search
- Home page for the American Postal Workers Union,
representing 366,000 union members in the United States. Page
links to information about the union, its labor contract,
issues of interest, a Congressional directory for contacting
legislators in any state, and more.
- http://www.apwu.org/