Labour economics

Overall, Becker’s theory of time allocation is considered as an influential contribution in the field of the New Home Economics. According to Chiaporri and Lewbel (2015) Becker’s time allocation theory can be considered as revolutionary as he does not perceive consumption and leisure as separate activities, that provide utility only in a disconnected way. However, according to Beblo (2002) the approach is subject to several critiques. So, Beblo (2002) argues that Becker’s (1965) assumes all…

like to explain the meaning of “free trade”. Free trade is a trade where countries carries out economic activities without restrictions or barrier such as import and export tariffs, barrier to market entry and policies. There are several main features of free trade.These main features are the benefits of free trade,as for me: Free movement of labour and capital among countries. Free movement of labour and capital across countries and regions ensure that countries under the trade treaties are…

citizens. One of the key factors that is affecting the Canadian labour market is discrimination which is resulting in inequality and poverty. Immigrants have changed the Canadian labour market drastically over the last 25 years. Information collected from the…

industrial and economic developments of the Industrial Revolution brought both hardships and progresses. The Industrial Revolution made a huge change throughout the world, marking a major turning point for human history with significant social changes of the way people live and interact with each other. The industrial revolution brought progresses such as world trade and new inventions and innovative ideas. The industrial revolution also brought hardships as well resulting in poverty and child…

Climate change makes people’s living unsecured, it forces people to migrate and often limit their sources of income. Child labour report 2016 shows the vicious relationship between climate change and child labour as push and pull factors. Push factors include “poverty, economic shocks, social acceptance of child labour, insufficient educational opportunities and/or barriers to education, discrimination in access to schooling or certain jobs and lack of parental guidance (Matt Rosenberg).” Pull…

Scarcity is a key concept in economics and it is viewed as being a huge problem within economics. Scarcity refers to a situation where demand exceeds supply and this can apply to anything from consumer goods to raw materials. (financepractitioner). For example, scientists suggest that crude oil can run out in the near future due to the high demands for it but a lack of supply of it which suggests that crude oil is a scarce resource. Another example could be housing in the UK. There are high…

an explanation via economic analysis for why the South fell behind the North in industrialization as well as many other qualitative measures such as literacy, immigration and educational infrastructure. I believe that it is necessary to discuss these failings…

political economic approach is exemplified by Freeman and Zolberg, who argue that politics and economics are deeply intertwined in driving the migration process. This will eventually lead migrants to eventually become a political interest group (Zolberg: 1998). Yet, this privileges the influence of the economy, and international credit over migration policy, with the effect of undermining the political and institutional dimension of markets, including the industrial, agricultural, and labour…

power via firm-specific assets. Among those assets are patents, differentiated product, superior labour skills, experience, and reputation. Such structural imperfections are necessary because operating abroad puts the foreign…

learned that there is a separation between a our wants and needs, and how difficult it is to create a fair and equal economic system for everyone. In Jean-Jacques Rousseau’s, Discourse on Inequality, Rousseau states that man has a mentality of “This is mine” (Rousseau, 249). Rousseau believes that mentality is the reasoning for the many crimes,…