Labour (economics)

In classical economics and all micro-economics labour is one of three factors of production, the others being land and capital. It is a measure of the work done by human beings. There are macro-economic system theories which have created a concept called human capital (referring to the skills that workers possess, not necessarily their actual work), although there are also counterposing macro-economic system theories that think human capital is a contradiction in terms.

See also

• Economic rent
• Compensation of employees
• Employment
• Human resources
• Human Resource Management Systems
• Labour economics
• Offshore outsourcing
• Profession
• Retirement