There were signs of a partial recovery in the labour markets and economies of Latin America and the Caribbean during 2021, in the wake of the crisis caused by the coronavirus disease (COVID-19) pandemic. Nonetheless, although the labour force participation rate and employment both improved in...

The critical role of free entry to correct inherent deviance behavior has been stressed by Vanek (1970), Meade (1972) amongst others. The equivalence theorem (Dreze 1976) defines that labour and entrepreneurial management both lead to the same Pareto optimal equilibrium provided that there is...