Jacob Mincer
- Published in print:
- 2007
- Published Online:
- May 2007
- ISBN:
- 9780199211319
- eISBN:
- 9780191705748
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199211319.003.0005
- Subject:
- Economics and Finance, History of Economic Thought
This chapter starts by making a brief portrait of labor economics in the decades preceding Mincer's work. When Jacob Mincer started his academic career, labor economics was finishing a long process ...
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This chapter starts by making a brief portrait of labor economics in the decades preceding Mincer's work. When Jacob Mincer started his academic career, labor economics was finishing a long process of change that marked the postwar years. This transformation, crucial for understanding the emergence of human capital theory, was generally characterized by the increasing pervasiveness of neoclassical economic theory in a field traditionally more attached to an empirical and institutionalist research agenda. Under the stimulus of some prominent labor researchers, Mincer became increasingly interested in labor issues, namely in labor supply behavior. This chapter analyzes some of his major pieces of research around the theme of labor supply and lifetime labor income, and the way these differed from previous labor research. This work is also presented in a way that shows the close links between Mincer's research on human capital and the long-term behavior of labor supply.Less
This chapter starts by making a brief portrait of labor economics in the decades preceding Mincer's work. When Jacob Mincer started his academic career, labor economics was finishing a long process of change that marked the postwar years. This transformation, crucial for understanding the emergence of human capital theory, was generally characterized by the increasing pervasiveness of neoclassical economic theory in a field traditionally more attached to an empirical and institutionalist research agenda. Under the stimulus of some prominent labor researchers, Mincer became increasingly interested in labor issues, namely in labor supply behavior. This chapter analyzes some of his major pieces of research around the theme of labor supply and lifetime labor income, and the way these differed from previous labor research. This work is also presented in a way that shows the close links between Mincer's research on human capital and the long-term behavior of labor supply.
Sarah Harper
- Published in print:
- 2004
- Published Online:
- July 2005
- ISBN:
- 9780199251162
- eISBN:
- 9780191602740
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199251169.003.0008
- Subject:
- Political Science, Comparative Politics
This chapter examines the relationship between labour supply, time help to parents, and financial assistance to parents for a sample of American women aged 53 to 63. Women who helped their parents ...
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This chapter examines the relationship between labour supply, time help to parents, and financial assistance to parents for a sample of American women aged 53 to 63. Women who helped their parents with personal care assistance worked fewer hours than those who did not. Women who provided financial assistance worked longer hours.Less
This chapter examines the relationship between labour supply, time help to parents, and financial assistance to parents for a sample of American women aged 53 to 63. Women who helped their parents with personal care assistance worked fewer hours than those who did not. Women who provided financial assistance worked longer hours.
Richard M. Goodwin
- Published in print:
- 1990
- Published Online:
- November 2003
- ISBN:
- 9780198283355
- eISBN:
- 9780191596315
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198283350.003.0002
- Subject:
- Economics and Finance, Macro- and Monetary Economics
Deals with the classical dynamical problem of technological advances in an agricultural (corn) economy. Goodwin asserts that two mis‐specifications—concerning labour supply and technical ...
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Deals with the classical dynamical problem of technological advances in an agricultural (corn) economy. Goodwin asserts that two mis‐specifications—concerning labour supply and technical progress—hampered classical models. A discrete time model is proposed with corn production embedded in a wider economy. The model has a chaotic attractor, and highly erratic market dynamics follow even in the absence of exogenous shocks.Less
Deals with the classical dynamical problem of technological advances in an agricultural (corn) economy. Goodwin asserts that two mis‐specifications—concerning labour supply and technical progress—hampered classical models. A discrete time model is proposed with corn production embedded in a wider economy. The model has a chaotic attractor, and highly erratic market dynamics follow even in the absence of exogenous shocks.
Lawrence M. Kahn
- Published in print:
- 2012
- Published Online:
- January 2013
- ISBN:
- 9780199665853
- eISBN:
- 9780191745805
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199665853.003.0010
- Subject:
- Economics and Finance, Macro- and Monetary Economics, Public and Welfare
This chapter investigates married women's labour supply behaviour from 1980 to 2000. In the 1980s, their labour supply function for annual hours shifted sharply to the right, with little shift in the ...
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This chapter investigates married women's labour supply behaviour from 1980 to 2000. In the 1980s, their labour supply function for annual hours shifted sharply to the right, with little shift in the 1990s. This is the major reason for the more rapid growth of female labour supply observed in the 1980s, with an additional factor being that husbands' real wages fell slightly in the 1980s but rose in the 1990s. Moreover, a major new development was that, during both decades, there was a dramatic reduction in women's own wage elasticity. And women's labour supply also became less responsive to their husbands' wages. Between 1980 and 2000, women's own wage elasticity fell by 50 to 56 percent, while their cross wage elasticity fell by 38 to 47 percent in absolute value. These patterns hold up under virtually all alternative specifications.Less
This chapter investigates married women's labour supply behaviour from 1980 to 2000. In the 1980s, their labour supply function for annual hours shifted sharply to the right, with little shift in the 1990s. This is the major reason for the more rapid growth of female labour supply observed in the 1980s, with an additional factor being that husbands' real wages fell slightly in the 1980s but rose in the 1990s. Moreover, a major new development was that, during both decades, there was a dramatic reduction in women's own wage elasticity. And women's labour supply also became less responsive to their husbands' wages. Between 1980 and 2000, women's own wage elasticity fell by 50 to 56 percent, while their cross wage elasticity fell by 38 to 47 percent in absolute value. These patterns hold up under virtually all alternative specifications.
Richard M. Goodwin
- Published in print:
- 1990
- Published Online:
- November 2003
- ISBN:
- 9780198283355
- eISBN:
- 9780191596315
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198283350.003.0003
- Subject:
- Economics and Finance, Macro- and Monetary Economics
Teases out parallels in the thinking of von Neumann and Marx. Goodwin presents a simplified version of the von Neumann model removing the assumption of infinite labour supply. The resulting ...
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Teases out parallels in the thinking of von Neumann and Marx. Goodwin presents a simplified version of the von Neumann model removing the assumption of infinite labour supply. The resulting non‐linear difference system shows endogenously erratic behaviour with cyclical output growth. In the long run, this system ceases to oscillate and another model is proposed to circumvent this problem. For low parameter values, the model has a fixed point; for moderate values, it has a limit cycle; and for higher values, a chaotic attractor is observed.Less
Teases out parallels in the thinking of von Neumann and Marx. Goodwin presents a simplified version of the von Neumann model removing the assumption of infinite labour supply. The resulting non‐linear difference system shows endogenously erratic behaviour with cyclical output growth. In the long run, this system ceases to oscillate and another model is proposed to circumvent this problem. For low parameter values, the model has a fixed point; for moderate values, it has a limit cycle; and for higher values, a chaotic attractor is observed.
John Knight
- Published in print:
- 2012
- Published Online:
- May 2012
- ISBN:
- 9780199698691
- eISBN:
- 9780191739118
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199698691.003.0009
- Subject:
- Economics and Finance, South and East Asia, Financial Economics
China has achieved rapid economic growth, averaging more than 9% per annum over the three decades 1978–2008. Over the same period the labour force has grown by 380 million, or by 90%, equivalent to ...
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China has achieved rapid economic growth, averaging more than 9% per annum over the three decades 1978–2008. Over the same period the labour force has grown by 380 million, or by 90%, equivalent to 2.3% per annum. This chapter examines whether the surplus labour has been absorbed productively into the economy. It begins in Section 9.2 by briefly describing the Lewis model. Section 9.3 provides some background information on trends in the Chinese labour market. Section 9.4 reviews the literature on the research question. Section 9.5 describes national household surveys, relating mainly to 2002 and 2007. Section 9.6 reports existing studies of minimum wage behaviour or migrant wage behaviour, and then makes it own contribution by analysing wage functions for the rural-urban migrant samples in order to examine and explain migrant wage.Less
China has achieved rapid economic growth, averaging more than 9% per annum over the three decades 1978–2008. Over the same period the labour force has grown by 380 million, or by 90%, equivalent to 2.3% per annum. This chapter examines whether the surplus labour has been absorbed productively into the economy. It begins in Section 9.2 by briefly describing the Lewis model. Section 9.3 provides some background information on trends in the Chinese labour market. Section 9.4 reviews the literature on the research question. Section 9.5 describes national household surveys, relating mainly to 2002 and 2007. Section 9.6 reports existing studies of minimum wage behaviour or migrant wage behaviour, and then makes it own contribution by analysing wage functions for the rural-urban migrant samples in order to examine and explain migrant wage.
Casey B. Mulligan
- Published in print:
- 2012
- Published Online:
- January 2013
- ISBN:
- 9780199942213
- eISBN:
- 9780199980772
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199942213.003.0004
- Subject:
- Economics and Finance, Public and Welfare
This chapter introduces one of the book's major conclusions by presenting a supply and demand model of the labor market that includes total factor productivity, population growth, wealth effects, ...
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This chapter introduces one of the book's major conclusions by presenting a supply and demand model of the labor market that includes total factor productivity, population growth, wealth effects, population aging, and various labor market distortions as important variables affecting market outcomes. Using Chapter 3's self-reliance rates to examine some of the consequences of changes in redistribution, this chapter concludes that at least half, and probably more, of the drop in aggregate hours since 2007 would not have occurred, or at worse would have been short-lived, if the safety net had been constant. The chapter relates supply and demand parameters to household level econometric studies of labor supply and unemployment duration. It also addresses a number of misconceptions about labor market equilibrium analysis such as the income maximization fallacy, and the claim that supply-induced recessions should be characterized as pleasant experiences for the unemployed.Less
This chapter introduces one of the book's major conclusions by presenting a supply and demand model of the labor market that includes total factor productivity, population growth, wealth effects, population aging, and various labor market distortions as important variables affecting market outcomes. Using Chapter 3's self-reliance rates to examine some of the consequences of changes in redistribution, this chapter concludes that at least half, and probably more, of the drop in aggregate hours since 2007 would not have occurred, or at worse would have been short-lived, if the safety net had been constant. The chapter relates supply and demand parameters to household level econometric studies of labor supply and unemployment duration. It also addresses a number of misconceptions about labor market equilibrium analysis such as the income maximization fallacy, and the claim that supply-induced recessions should be characterized as pleasant experiences for the unemployed.
Casey B. Mulligan
- Published in print:
- 2012
- Published Online:
- January 2013
- ISBN:
- 9780199942213
- eISBN:
- 9780199980772
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199942213.003.0005
- Subject:
- Economics and Finance, Public and Welfare
This chapter estimates impacts of the expanding social safety net on the major macroeconomic variables—including GDP, consumption, investment, and labor hours—in a dynamic economic model with capital ...
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This chapter estimates impacts of the expanding social safety net on the major macroeconomic variables—including GDP, consumption, investment, and labor hours—in a dynamic economic model with capital accumulation. Much of the aggregate changes in the labor market since 2007 can be interpreted as the result of changes in marginal tax rates or an impulse with similar characteristics. Moreover, the marginal tax rate changes coming from safety net expansions were enough to generate changes in the major macro aggregates that resemble the actual changes in direction, amount, and timing. The neoclassical growth model also offers an unconventional causal interpretation of the sharp drops in consumption, investment, and capital market values during 2008: the drops were, largely, a reaction to, and anticipation of, labor market contractions created by the expanding social safety net. In this view, it is incorrect to attribute the labor market contraction to drops in investment and consumer spending.Less
This chapter estimates impacts of the expanding social safety net on the major macroeconomic variables—including GDP, consumption, investment, and labor hours—in a dynamic economic model with capital accumulation. Much of the aggregate changes in the labor market since 2007 can be interpreted as the result of changes in marginal tax rates or an impulse with similar characteristics. Moreover, the marginal tax rate changes coming from safety net expansions were enough to generate changes in the major macro aggregates that resemble the actual changes in direction, amount, and timing. The neoclassical growth model also offers an unconventional causal interpretation of the sharp drops in consumption, investment, and capital market values during 2008: the drops were, largely, a reaction to, and anticipation of, labor market contractions created by the expanding social safety net. In this view, it is incorrect to attribute the labor market contraction to drops in investment and consumer spending.
Cindy Hahamovitch
- Published in print:
- 2011
- Published Online:
- October 2017
- ISBN:
- 9780691102689
- eISBN:
- 9781400840021
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691102689.003.0003
- Subject:
- History, American History: 20th Century
This chapter describes the second phase in the history of guestworker programs. The mobilization for World War II led once again to rising wages and thus to the rekindling of interest in temporary ...
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This chapter describes the second phase in the history of guestworker programs. The mobilization for World War II led once again to rising wages and thus to the rekindling of interest in temporary foreign workers. Outlasting the war by more than thirty years, this phase involved far more nations and migrants, and far greater state involvement in labor supply schemes. During the Great Depression, nation-states expelled foreign workers in the name of taking care of their own; during World War II, they invited them back, beginning a new and much larger trend toward admitting foreign workers on a temporary basis. The chapter focuses in particular on the story of Bahamian laborers during this period, as a tomato farmer and self-appointed diplomat named Luther L. Chandler began the efforts toward a new immigration policy that would give growers in the East access to Bahamian workers.Less
This chapter describes the second phase in the history of guestworker programs. The mobilization for World War II led once again to rising wages and thus to the rekindling of interest in temporary foreign workers. Outlasting the war by more than thirty years, this phase involved far more nations and migrants, and far greater state involvement in labor supply schemes. During the Great Depression, nation-states expelled foreign workers in the name of taking care of their own; during World War II, they invited them back, beginning a new and much larger trend toward admitting foreign workers on a temporary basis. The chapter focuses in particular on the story of Bahamian laborers during this period, as a tomato farmer and self-appointed diplomat named Luther L. Chandler began the efforts toward a new immigration policy that would give growers in the East access to Bahamian workers.
Casey B. Mulligan
- Published in print:
- 2012
- Published Online:
- January 2013
- ISBN:
- 9780199942213
- eISBN:
- 9780199980772
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199942213.003.0002
- Subject:
- Economics and Finance, Public and Welfare
During the recession of 2008–9, labor hours fell sharply, while wages and output per hour rose. Some, but not all, of the productivity and wage increase can be attributed to changing quality of the ...
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During the recession of 2008–9, labor hours fell sharply, while wages and output per hour rose. Some, but not all, of the productivity and wage increase can be attributed to changing quality of the workforce. The rest of the increase appears to be due to increases in production inputs other than labor hours. All of these findings, plus the drop in consumer expenditure, are consistent with the hypothesis that labor market distortions were increasing during the recession and have remained in place during the slow recovery. Producers appear to be trying to continue production with less labor, rather than cutting labor hours as a means of cutting output.Less
During the recession of 2008–9, labor hours fell sharply, while wages and output per hour rose. Some, but not all, of the productivity and wage increase can be attributed to changing quality of the workforce. The rest of the increase appears to be due to increases in production inputs other than labor hours. All of these findings, plus the drop in consumer expenditure, are consistent with the hypothesis that labor market distortions were increasing during the recession and have remained in place during the slow recovery. Producers appear to be trying to continue production with less labor, rather than cutting labor hours as a means of cutting output.
Lawrence M. Kahn and Kerry L. Papps
- Published in print:
- 2012
- Published Online:
- January 2013
- ISBN:
- 9780199665853
- eISBN:
- 9780191745805
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199665853.003.0017
- Subject:
- Economics and Finance, Macro- and Monetary Economics, Public and Welfare
Using 1980–2000 Census data to study the impact of source country characteristics on married adult immigrants' labour supply assimilation profiles, this chapter shows that immigrant women from ...
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Using 1980–2000 Census data to study the impact of source country characteristics on married adult immigrants' labour supply assimilation profiles, this chapter shows that immigrant women from countries with high female labour supply persistently work more than those from low female supply countries. While both groups of women work less than comparable natives on arrival, women from high female participation countries eventually close the gap with natives entirely, and women from low female labour supply countries eliminate most of it. Men's labour supply is unaffected by source country female participation, suggesting that the findings on women reflect notions of gender roles.Less
Using 1980–2000 Census data to study the impact of source country characteristics on married adult immigrants' labour supply assimilation profiles, this chapter shows that immigrant women from countries with high female labour supply persistently work more than those from low female supply countries. While both groups of women work less than comparable natives on arrival, women from high female participation countries eventually close the gap with natives entirely, and women from low female labour supply countries eliminate most of it. Men's labour supply is unaffected by source country female participation, suggesting that the findings on women reflect notions of gender roles.
Louis Putterman
- Published in print:
- 1993
- Published Online:
- October 2011
- ISBN:
- 9780195078725
- eISBN:
- 9780199854950
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195078725.003.0007
- Subject:
- Economics and Finance, Development, Growth, and Environmental
Discussed here are the summaries of findings, conclusions, and implications of the labor supply at the individual team-member level, extracted from the survey responses in 1980 with respect to the ...
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Discussed here are the summaries of findings, conclusions, and implications of the labor supply at the individual team-member level, extracted from the survey responses in 1980 with respect to the productivity rates in 1979. Reactions of individual household employees in Dahe toward material compensations in establishing their labor input to group productivity are examined. With the one-shot observation per participant, the researchers’ inferences about the contingencies of the decisions of various team members and the influences of different distribution regulations are partial. Analysis of the Dahe household survey information presented is the individual supply of labor matched with the team-level results. Despite such a link, generalizations for the study are limited, since the source is only a relatively small collection of local data.Less
Discussed here are the summaries of findings, conclusions, and implications of the labor supply at the individual team-member level, extracted from the survey responses in 1980 with respect to the productivity rates in 1979. Reactions of individual household employees in Dahe toward material compensations in establishing their labor input to group productivity are examined. With the one-shot observation per participant, the researchers’ inferences about the contingencies of the decisions of various team members and the influences of different distribution regulations are partial. Analysis of the Dahe household survey information presented is the individual supply of labor matched with the team-level results. Despite such a link, generalizations for the study are limited, since the source is only a relatively small collection of local data.
Michael C. Burda, Daniel S. Hamermesh, and Philippe Weil
- Published in print:
- 2008
- Published Online:
- May 2008
- ISBN:
- 9780199231027
- eISBN:
- 9780191710834
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199231027.003.0005
- Subject:
- Economics and Finance, Public and Welfare
This chapter examines how home production is chosen in the household context and explores the welfare implications of home production in the EU and USA. It begins by reviewing and extending the ...
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This chapter examines how home production is chosen in the household context and explores the welfare implications of home production in the EU and USA. It begins by reviewing and extending the theory of home production. Empirical evidence presented in Chapter 1 showed not only that household work is a significant component of All Work, but also that it varies widely across households and across persons within households. It is shown that there are good theoretical reasons to suspect that the decision to move from no market work to some market work involves the expenditure of time and material resources. This suggests a natural econometric test, namely to see whether the decision to work changes the allocation of time in a smooth fashion or in fact ‘disrupts’ the allocation of time and material resources to other activities. The chapter concludes with some speculation as to what we can say about these EU-US differences in work and time use.Less
This chapter examines how home production is chosen in the household context and explores the welfare implications of home production in the EU and USA. It begins by reviewing and extending the theory of home production. Empirical evidence presented in Chapter 1 showed not only that household work is a significant component of All Work, but also that it varies widely across households and across persons within households. It is shown that there are good theoretical reasons to suspect that the decision to move from no market work to some market work involves the expenditure of time and material resources. This suggests a natural econometric test, namely to see whether the decision to work changes the allocation of time in a smooth fashion or in fact ‘disrupts’ the allocation of time and material resources to other activities. The chapter concludes with some speculation as to what we can say about these EU-US differences in work and time use.
A. B. Atkinson
- Published in print:
- 1996
- Published Online:
- November 2003
- ISBN:
- 9780198292166
- eISBN:
- 9780191595875
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198292163.003.0007
- Subject:
- Economics and Finance, Public and Welfare
Tax reforms can potentially affect work decisions. This chapter examines the sources of empirical evidence about different dimensions of labour supply.
Tax reforms can potentially affect work decisions. This chapter examines the sources of empirical evidence about different dimensions of labour supply.
Janemarie Mulvey and Steven Nyce
- Published in print:
- 2005
- Published Online:
- February 2006
- ISBN:
- 9780199284603
- eISBN:
- 9780191603013
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199284601.003.0007
- Subject:
- Economics and Finance, Financial Economics
This chapter begins by outlining the economic and demographic realities facing employers, and spells out how these change the ‘retirement promise’. The effects of several factors on older workers' ...
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This chapter begins by outlining the economic and demographic realities facing employers, and spells out how these change the ‘retirement promise’. The effects of several factors on older workers' retirement patterns are quantified, including early retirement incentives in DB plans, retiree medical coverage, and various work/life benefits including phased retirement and eldercare programs. The potential increase in older workers' labour force participation from changing these benefit offerings are estimated. It is argued that these will only marginally offset expected gaps between labour supply and demand in the coming decade.Less
This chapter begins by outlining the economic and demographic realities facing employers, and spells out how these change the ‘retirement promise’. The effects of several factors on older workers' retirement patterns are quantified, including early retirement incentives in DB plans, retiree medical coverage, and various work/life benefits including phased retirement and eldercare programs. The potential increase in older workers' labour force participation from changing these benefit offerings are estimated. It is argued that these will only marginally offset expected gaps between labour supply and demand in the coming decade.
Deepak Lal
- Published in print:
- 2004
- Published Online:
- September 2008
- ISBN:
- 9780199275793
- eISBN:
- 9780191706097
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199275793.003.0003
- Subject:
- History, History of Religion
This chapter sketches an economic theory which might be able to explain both the origins and the resilience of the Hindu social system as expressed in its twin pillars: the caste system and the ...
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This chapter sketches an economic theory which might be able to explain both the origins and the resilience of the Hindu social system as expressed in its twin pillars: the caste system and the village “community”. It considers another novel aspect of Hindu customs — its ban on cow slaughter. It focuses on the north, in particular on the Indo-Gangetic plain, which was the crucible of Hinduism, and its social expression in the caste system. The chapter also outlines the variant of the Hindu social system that was established in the southern peninsula by about the 6th to 9th centuries AD, and the reasons for the form it took.Less
This chapter sketches an economic theory which might be able to explain both the origins and the resilience of the Hindu social system as expressed in its twin pillars: the caste system and the village “community”. It considers another novel aspect of Hindu customs — its ban on cow slaughter. It focuses on the north, in particular on the Indo-Gangetic plain, which was the crucible of Hinduism, and its social expression in the caste system. The chapter also outlines the variant of the Hindu social system that was established in the southern peninsula by about the 6th to 9th centuries AD, and the reasons for the form it took.
Alice H. Amsden
- Published in print:
- 1992
- Published Online:
- November 2003
- ISBN:
- 9780195076035
- eISBN:
- 9780199870691
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0195076036.003.0008
- Subject:
- Economics and Finance, Development, Growth, and Environmental, South and East Asia
The forces behind the operation of the labor market and real wage increases in South Korea are examined. It is argued that in industries in which the technology transfer problem was fairly ...
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The forces behind the operation of the labor market and real wage increases in South Korea are examined. It is argued that in industries in which the technology transfer problem was fairly complicated and in which Korea lacked experience, workers were paid relatively high wages, not because of a shortage of particular skills, but in order to induce them to exercise their intelligence and make imported technology work. The wage rate in Korea was driven up especially fast by the exigencies of learning because the learning experience was especially intense since it was undertaken by local rather than foreign firms, happened in a great spurt, and occurred in large, bureaucratic enterprises. Business was also pressured by government to share its wealth with labor. Because scarcity and demand alone cannot explain the operation of the labor market, the chapter ends with a discussion of the imperatives of technology and the skill set of late industrialization that have driven big businesses to pay more.Less
The forces behind the operation of the labor market and real wage increases in South Korea are examined. It is argued that in industries in which the technology transfer problem was fairly complicated and in which Korea lacked experience, workers were paid relatively high wages, not because of a shortage of particular skills, but in order to induce them to exercise their intelligence and make imported technology work. The wage rate in Korea was driven up especially fast by the exigencies of learning because the learning experience was especially intense since it was undertaken by local rather than foreign firms, happened in a great spurt, and occurred in large, bureaucratic enterprises. Business was also pressured by government to share its wealth with labor. Because scarcity and demand alone cannot explain the operation of the labor market, the chapter ends with a discussion of the imperatives of technology and the skill set of late industrialization that have driven big businesses to pay more.
Peter Temin
- Published in print:
- 2012
- Published Online:
- October 2017
- ISBN:
- 9780691147680
- eISBN:
- 9781400845422
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691147680.003.0006
- Subject:
- History, Ancient History / Archaeology
This chapter explains how labor is an important input into the production of wheat and other commodities. However, this examination of the Roman market is complicated by the presence of Roman ...
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This chapter explains how labor is an important input into the production of wheat and other commodities. However, this examination of the Roman market is complicated by the presence of Roman slavery. The existence of slavery was taken by a previous generation of scholars to preclude the possibility of a Roman labor market. A functioning labor market couples a labor demand with a labor supply. Two conditions must be filled, at least partially: workers must be free to change their economic activity and/or their location, and they must be paid something commensurate with their labor productivity to indicate to them which kind of work to choose. Labor productivity here means the output of goods or services that results from the employment of an individual worker.Less
This chapter explains how labor is an important input into the production of wheat and other commodities. However, this examination of the Roman market is complicated by the presence of Roman slavery. The existence of slavery was taken by a previous generation of scholars to preclude the possibility of a Roman labor market. A functioning labor market couples a labor demand with a labor supply. Two conditions must be filled, at least partially: workers must be free to change their economic activity and/or their location, and they must be paid something commensurate with their labor productivity to indicate to them which kind of work to choose. Labor productivity here means the output of goods or services that results from the employment of an individual worker.
Pierre-Richard Agénor
- Published in print:
- 2012
- Published Online:
- October 2017
- ISBN:
- 9780691155807
- eISBN:
- 9781400845392
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691155807.003.0006
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter focuses on two aspects of the debate on the role of women in growth and development: the impact of lack of access to infrastructure on women's time allocation and the role of inter- and ...
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This chapter focuses on two aspects of the debate on the role of women in growth and development: the impact of lack of access to infrastructure on women's time allocation and the role of inter- and intragenerational health externalities—namely, how mothers' time allocation decisions affect their children's health, and how health in childhood affects health in adulthood. To do so, a gender dimension is added to the analytical framework presented in the previous chapters. The chapter begins with a review of the recent evidence on women's time allocation, with a particular focus on the implications of poor access to infrastructure services, and on intergenerational health externalities. The model is then presented and its properties analyzed. The impact of public policy is considered next, and the implications of the analysis for the debate on the relationship between women's labor supply and the level of development are discussed. The concluding section considers various extensions.Less
This chapter focuses on two aspects of the debate on the role of women in growth and development: the impact of lack of access to infrastructure on women's time allocation and the role of inter- and intragenerational health externalities—namely, how mothers' time allocation decisions affect their children's health, and how health in childhood affects health in adulthood. To do so, a gender dimension is added to the analytical framework presented in the previous chapters. The chapter begins with a review of the recent evidence on women's time allocation, with a particular focus on the implications of poor access to infrastructure services, and on intergenerational health externalities. The model is then presented and its properties analyzed. The impact of public policy is considered next, and the implications of the analysis for the debate on the relationship between women's labor supply and the level of development are discussed. The concluding section considers various extensions.
Ragui Assaad (ed.)
- Published in print:
- 2009
- Published Online:
- September 2011
- ISBN:
- 9789774162480
- eISBN:
- 9781617970313
- Item type:
- book
- Publisher:
- American University in Cairo Press
- DOI:
- 10.5743/cairo/9789774162480.001.0001
- Subject:
- Political Science, International Relations and Politics
This book is a follow-up to a 1998 publication by the Economic Research Forum (ERF). Its significance lies in the contributors' reliance on fresh data and solid analytical techniques used to examine ...
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This book is a follow-up to a 1998 publication by the Economic Research Forum (ERF). Its significance lies in the contributors' reliance on fresh data and solid analytical techniques used to examine a wide spectrum of issues concerning the labor market in Egypt. The range of topics includes labor supply, employment and unemployment, youth labor market school-to-work transition, internal and international migration, earnings and inequality, and gender and education. The papers in the book are based on data collected in the Egypt Labor Market Panel Survey of 2006, a follow-up to the Egypt Labor Market Survey of 1998.Less
This book is a follow-up to a 1998 publication by the Economic Research Forum (ERF). Its significance lies in the contributors' reliance on fresh data and solid analytical techniques used to examine a wide spectrum of issues concerning the labor market in Egypt. The range of topics includes labor supply, employment and unemployment, youth labor market school-to-work transition, internal and international migration, earnings and inequality, and gender and education. The papers in the book are based on data collected in the Egypt Labor Market Panel Survey of 2006, a follow-up to the Egypt Labor Market Survey of 1998.
