Internal Labor Markets
Answer the following questions:
1. What are the key characteristics of internal labor markets and why would an employer use this structure? Using your understanding of internal labor markets, answer the following:
- Outline an example from your own experience of an internal labor market especially explaining the process of upward mobility.
- In an increasingly globalized labor market where flexibility is important, would you expect to find increasing or decreasing use of internal labor markets? Explain why? Use examples from the readings to support your response.
2. In thinking about wages through the political economy lens, what is meant by the statement, “it isn’t just the economy?”
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