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Contents 7 New Preface (2017 Edition) 11 Preface and Acknowledgements (1993 Edition) 12 List of Figures 14 List of Tables 15 Chapter 1. Introduction 17 Breaking the Impasse 17 Toward a Theoretical Alternative 22 Implications for the Analysis of Discrimination 24 On Heterogeneous Labour 26 Comparing Our Results to Orthodox and Radical Economics 29 Solving Some Anomalies 32 Outline of the Argument 34 Chapter 2. Continuing Attempts to Square the Circle (Or, Competitive Theory Confronts Differential Wage Rates) 37 Early Neoclassical Wage Theory 37 The Theory of Perfect Competition: Abstraction as Idealisation 39 The Inevitable Schism between Theory and Practice 42 The Theory of Imperfect Competition – Godsend or Albatross? 44 Postwar Institutionalists: An Initial Attempt at Alternative Theory 45 The Ascent of Human Capital Theory 49 The Real World Strikes Back 51 The New Institutionalists: The Dual Economy and Dual Labour Markets 52 Labour Market Segmentation and Monopoly Capital 57 The Initial Response to Segmentation Theory 60 The Second Wave of Segmentation Arguments 65 The Continuing Search for a Radical Alternative 70 Efficiency Wage Theory: The Latest A
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