What can you say about the labor supply in the country?
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Mainstream economics is the body of knowledge, theories, and models of economics, as taught by universities worldwide, that are generally accepted by economists as a basis for discussion. Also known as orthodox economics, it can be contrasted to heterodox economics, which encompasses various schools or approaches that are only accepted by a minority of economists.
The economics profession has traditionally been associated with neoclassical economics This association has however been challenged by prominent historians of economic thought like David Collander.They argue the current economic mainstream theories (game theory, behavioral economics, industrial organization, information economics ...) share very little common ground with the initial axioms of neoclassical economics.
In mainstream economic theories, the labour supply is the total hours (adjusted for intensity of effort) that workers wish to work at a given real wage rate. It is frequently represented graphically by a labour supply curve, which shows hypothetical wage rates plotted vertically and the amount of labour that an individual or group of individuals is willing to supply at that wage rate plotted horizontally.
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