X hits on this document

Powerpoint document

Economic Development of Central America Econ. 4200 - Spring 2004 – Dr. Taylor - page 87 / 153

453 views

0 shares

0 downloads

0 comments

87 / 153

- Across the economy, important in the production of wage goods.

- Often referred to as the “informal” sector. Employs the majority of population and extremely heterogeneous (spans agriculture, industry and serviced in both urban and rural areas)

- Expands and contracts passively in response to the general economy.

- Characterized by high turnover of employees and considerable labor mobility. Constituted pool of reserve labor that keeps downward pressure on wage rates in all sectors.

- Unregulated and unmonitored.

Note: The low-wage, low-productivity of the competitive and agricultural sectors contrasted with the higher-wage, high-productivity urban sector, generated increasing wealth and economic growth at one end of the social pole and poverty and stagnation at the other.

Document info
Document views453
Page views453
Page last viewedThu Dec 08 12:47:41 UTC 2016
Pages153
Paragraphs1549
Words20865

Comments