We scour several newspapers everyday looking for applications of economic theory. Some days are easier than others. Yesterday, I was watching McLintock (United Artists 1963) starring John Wayne (1907 -1979). The following dialogue made it to the blog. Devlin Warren was played by Patrick Wayne and Drago by Chill Wills.
Devlin Warren: I suppose I should have been grateful that you gave me the job.
George Washington McLintock: Gave? Boy, you've got it all wrong. I don't give jobs I hire men.
Drago: You intend to give this man a full day's work, don'tcha boy?
Devlin Warren: You mean you're still hirin' me? Well, yes, sir, I certainly deliver a fair day's work.
George Washington McLintock: And for that I'll pay you a fair day's wage. You won't give me anything and I won't give you anything. We both hold up our heads. Is that your plug?
Devlin Warren: Yes sir.
And that is a lesson in labour markets.
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