Question

3. How is the labor market for artists structured and how is it different from and similar to the market for such labor services as drivers or accountants?

Answer 1

Labor markets have curves of demand and supply, just like commodity markets. The legislation of demand applies this way in labor markets: a greater wage or wage — that is, a greater labor market cost — contributes to a reduction in the amount of labor requested by workers, while a reduced wage or wage leads to an rise in the amount of labor requested. The supply legislation also works in labor markets: a greater labor price leads to a greater labor supply amount; a reduced price leads to a reduced supply amount.

There are puzzling artistic labor markets. Employment and unemployment are growing at the same time. Uncertainty not only functions as a substantive condition for innovation and self-realization, but also as an attraction. Learning through doing plays such a crucial role that original learning is an incomplete filtering tool in many artworlds. The attractiveness of creative occupations is high, but it must be balanced against the danger of failure and ineffective professionalization, which ideally transforms non-routine employment into normal or ephemeral enterprises. Distributions of earnings are highly skewed.

Risk has to be managed, mainly through flexibility and cost reducing means at the organizational level and through multiple job holding at the individual level. Job rationing and an excess supply of artists seem to be structural traits associated with the emergence and the expansion of a free market organization of the arts.

Flexibility or rigidity in the labor market relates to employment problems such as salaries for employees, the ease with which businesses can employ and fire employees, the length of probation periods and union authority. Flexible labor markets are characterized by items like low minimum wage and legislation that does not impede employee hiring or termination. These flexible markets can lead to reduced unemployment and greater labor productivity in favor of workers ' rights. Overall, in order to preserve a good economy, a balance should be struck between worker and employer rights.