The Importance of Limitations on Bids in the Job Market

There are a number of ways I guess if there are restrictions on the sorts of employer who can bid for that person's labor in the same way as the example we've just had with the book and the auction. If certain people are not licensed to be employers if there are various restrictions on who can bid basically for that labor that is going to privilege some lower than otherwise bitter and result in an exploitation. That's the standard model of exploitation that I developed 25, 30 years ago.