THE SCARCITY OF LABOR MARKETS AND ELDERLY SUPPLY
Tinna Laufey Ásgeirsdóttir, Ph.D.Department of economics, University of Iceland
Scarcity
• Economics is sometimes called the study of scarcity
• The underlying problem of all or work
• Scarcity in the context of elderly labor supply– Fallacy of labor scarcity– Lump of labor fallacy– Zero-sum fallacy
Life-cycle income and expenditures
Expenditures
Life-cycle income and expenditures
Expenditures
Life-cycle income and expenditures
Expenditures
Life-cycle income and expenditures
Expenditures
Life-cycle income and expenditures
Expenditures
Life-cycle income and expenditures
Expenditures
What is scarce in this situation?
Thank you
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