John Kerrington Economics 330 Reaction Paper #3 Reaction Paper # 3 is based on the Article, “Labor Economics and Labor Relations”, by Loyd Reynolds, Stanley Masters, & Colletta Moser. This article offers a number of economical viewpoints, which although justifiable and scientifically proven, are still subject to debate. The first disagreeable point made by the author’s was their belief that an employee seeks an overall “employment package”, apart from wage, in determining their future employer. According to the article, …showed first 75 words of 686 total…

…showed last 75 words of 686 total…of their worth when it comes to employment. If they are turned down by one employer, they will likely demand a competitive wage from another based on their level of skill. The labor market IS in fact an effective tool for determining relative wage rates, but unlike the “ceteris parabus” presumed in such calculations is misleading. Particularly because we live in a highly fluid and pliable economy. Far from the Utopia that these calculations epitomize.