摘要：This paper examines the apparent conflict between the classical assumption of abargaining agricultural sector wage and the neo-classical assumption of a competitive wage inthe context of a labor surplus developing economy. It concludes that the relatively inelasticsupply of labor hours offered by low income small or landless farmers in the static micro-economic leisure/work context is perfectly consistent with the persistence for some time of aninstitutional real wage offered to the non-agricultural sector of the dual economy. Empiricalevidence is brought to bear in support of that position.
关键词：Institutional vs. Competitive Real Wage; Labor Surplus Economy; Neoclassical vs.;Classical Labor Markets
