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Household Economics
Household economics analyses all the decisions made by a household. These analyses are both at the microeconomic and macroeconomic level. This field analyses the structures of households, the behavior of family members, and their broader influence on society, including: decision making, division of labour within the household, allocation of time to household production, marriage, divorce, fertility, investment in children, and resource allocation. Malthus and Adam Smith studied the economics of the family in part by looking at the relationship between family size and living wage. Since the beginning of the 20th century, most economists have focused on business and monetary dimensions of the economy without consideration of household behaviour. The study of consumption and household production was marginalized by mainstream economics. Economics theory applied to households, however, can address interactions between the public and private sectors of society in ways that inform tax ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Thomas Robert Malthus
Thomas Robert Malthus (; 13/14 February 1766 – 29 December 1834) was an English cleric, scholar and influential economist in the fields of political economy and demography. In his 1798 book '' An Essay on the Principle of Population'', Malthus observed that an increase in a nation's food production improved the well-being of the population, but the improvement was temporary because it led to population growth, which in turn restored the original per capita production level. In other words, humans had a propensity to utilize abundance for population growth rather than for maintaining a high standard of living, a view that has become known as the " Malthusian trap" or the "Malthusian spectre". Populations had a tendency to grow until the lower class suffered hardship, want and greater susceptibility to war famine and disease, a pessimistic view that is sometimes referred to as a Malthusian catastrophe. Malthus wrote in opposition to the popular view in 18th-century Europe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Breadwinner Model
The breadwinner model is a paradigm of family centered on a breadwinner, "the member of a family who earns the money to support the others." Traditionally, the earner works outside the home to provide the family with income and benefits such as health insurance, while the non-earner stays at home and takes care of children and the elderly. Since the 1950s, social scientists and feminist theorists such as Germaine Greer have increasingly criticized the gendered division of work and care and the expectation that the breadwinner role should be fulfilled by men. Norwegian government policy has increasingly targeted men as fathers, as a tool of changing gender relations. Recent years have seen a shift in gender norms for the breadwinner role in the U.S. A 2013 Pew Research study found that women were the sole or primary breadwinners in 40% of heterosexual relationships with children. Rise In Britain, the breadwinner model developed among the emerging middle-class towards the end of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Parental Dividend
The parental dividend is a policy proposal first suggested by economist Shirley P. Burggraf during a Bunting Fellowship at Radcliffe College. It proposes replacing the current generalized labor market funding apparatus of the US Social Security system with one that preferentially rewards parental labor and investment. While the current US Social Security system collects payroll taxes from working adults and redistributes them to retirees in amounts based on pre-retirement earnings, the parental dividend is a retirement benefit calculated according to the income of one's own adult children. Background Shirley P. Burggraf’s parental dividend is described in ''The Feminine Economy and Economic Man: Reviving the Role of the Family in the Post-Industrial Age'' (1997). The proposal has been described as an atypical feminist approach to solving crises of the American family unit by relying on market forces. According to sociologist David Popenoe on the topic of the parental divide ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shoshana Grossbard
__NOTOC__ Shoshana Grossbard (born October 23, 1948; also known as Shoshana Grossbard-Shechtman, Amyra Grossbard-Shechtman, and Amyra Grossbard) is an economist and professor of economics emerita at San Diego State University. She is also a member of the Family Inequality Network, HCEO, University of Chicago and a research fellow at the Institute for the Study of Labor and the CESifo Institute. She is a well-published scholar as well as a founder of two organizations related to household economics: a journal, the '' Review of Economics of the Household'' founded in 2001 (she remains its editor in chief) and the Society of Economics of the Household. The Society (SEHO) holds annual meetings since 2017. The main focus of Grossbard's research is household economics, family economics and economics of marriage. A student of Gary Becker and James Heckman at the University of Chicago and of Jacob Mincer, she was one of the first economists to enter this research area. In her theoretical a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jacob Mincer
Jacob Mincer (July 15, 1922 – August 20, 2006), was a father of modern labor economics. He was Joseph L. Buttenwieser Professor of Economics and Social Relations at Columbia University for most of his active life. Biography Born in Tomaszów Lubelski, Poland, Mincer survived World War II prison camps in Czechoslovakia and Germany]as a teenager. After graduating from Emory University in 1950, Mincer received his PhD from Columbia University in 1957. Following teaching stints at City College of New York, Hebrew University, Stockholm School of Economics and the University of Chicago, Mincer joined Columbia's faculty in 1959. He stayed at Columbia until his retirement in 1991. Mincer was also a member of the National Bureau of Economic Research from 1960 through his death. Mincer died at his Manhattan home on August 20, 2006, due to complications from Parkinson's disease, according to his wife, Dr. Flora Mincer, and his daughters, Deborah Mincer (Sussman) and Carolyn Mincer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Standard Budget
A “standard budget” is a list of goods and services that a family of a specified size and composition would need to live at a designated level of well-being, together with the costs of those goods and services. Considerable work on standard budgets has been done in the United States and other countries in recent years, mostly by non-government analysts. Budgets have not been used to develop official poverty lines, and in most cases have not been used to calculate the size of a nation’s low-income population. The main way a standard budget is established is by using historical information. If standards are set using historical information, they may become out of date quickly. A standard budget is a vehicle for variance. It is commonly derived from estimates on future costs that have fixed and variable cost components. Standard budgets present information at only one level of activity, and do not provide information on how the variable portion of the costs would affect the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Outline Of Relationships
The following outline is provided as an overview of and topical guide to interpersonal relationships. Interpersonal relationship – association between two or more people; this association may be based on limerence, love, solidarity, regular business interactions, or some other type of social commitment. Interpersonal relationships are formed in the context of social, cultural, and other influences. Essence of relationships * Social relations – relationship between two (i.e. a dyad), three (i.e. a triad) or more individuals (i.e. members of a social group). Social relations, derived from individual agency, form the basis of social structure. * Social actions – acts which take into account the actions and reactions of individuals (or ' agents'). According to Max Weber, "an action is 'social' if the acting individual takes account of the behavior of others and is thereby oriented in its course" . Types of relationships Membership in a social group Socia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Family Economics
Family economics applies economic concepts such as production, division of labor, distribution, and decision making to the family. It is used to explain outcomes unique to family—such as marriage, the decision to have children, fertility, polygamy, time devoted to domestic production, and dowry payments using economic analysis. The family, although recognized as fundamental from Adam Smith onward, received little systematic treatment in economics before the 1960s. Important exceptions are Thomas Robert Malthus' model of population growthThomas Robert Malthus, 1798. ''An Essay on the Principle of Population''. Full text on WikiSource. and Friedrich Engels'Friedrich Engels, 1981, The Origin of the Family, Private Property and State, International Publishers, pp 94-146 pioneering work on the structure of family, the latter being often mentioned in Marxist and feminist economics. Since the 1960s, family economics has developed within mainstream economics, propelled by the ne ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nash Equilibrium
In game theory, the Nash equilibrium, named after the mathematician John Nash, is the most common way to define the solution of a non-cooperative game involving two or more players. In a Nash equilibrium, each player is assumed to know the equilibrium strategies of the other players, and no one has anything to gain by changing only one's own strategy. The principle of Nash equilibrium dates back to the time of Cournot, who in 1838 applied it to competing firms choosing outputs. If each player has chosen a strategy an action plan based on what has happened so far in the game and no one can increase one's own expected payoff by changing one's strategy while the other players keep their's unchanged, then the current set of strategy choices constitutes a Nash equilibrium. If two players Alice and Bob choose strategies A and B, (A, B) is a Nash equilibrium if Alice has no other strategy available that does better than A at maximizing her payoff in response to Bob choosing B, and Bo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Adam Smith
Adam Smith (baptized 1723 – 17 July 1790) was a Scottish economist and philosopher who was a pioneer in the thinking of political economy and key figure during the Scottish Enlightenment. Seen by some as "The Father of Economics"——— or "The Father of Capitalism",———— he wrote two classic works, ''The Theory of Moral Sentiments'' (1759) and '' An Inquiry into the Nature and Causes of the Wealth of Nations'' (1776). The latter, often abbreviated as ''The Wealth of Nations'', is considered his ''magnum opus'' and the first modern work that treats economics as a comprehensive system and as an academic discipline. Smith refuses to explain the distribution of wealth and power in terms of God’s will and instead appeals to natural, political, social, economic and technological factors and the interactions between them. Among other economic theories, the work introduced Smith's idea of absolute advantage. Smith studied social philosophy at the University of Glasgo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pareto Efficiency
Pareto efficiency or Pareto optimality is a situation where no action or allocation is available that makes one individual better off without making another worse off. The concept is named after Vilfredo Pareto (1848–1923), Italian civil engineer and economist, who used the concept in his studies of economic efficiency and income distribution. The following three concepts are closely related: * Given an initial situation, a Pareto improvement is a new situation where some agents will gain, and no agents will lose. * A situation is called Pareto-dominated if there exists a possible Pareto improvement. * A situation is called Pareto-optimal or Pareto-efficient if no change could lead to improved satisfaction for some agent without some other agent losing or, equivalently, if there is no scope for further Pareto improvement. The Pareto front (also called Pareto frontier or Pareto set) is the set of all Pareto-efficient situations. Pareto originally used the word "optimal" fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pierre-André Chiappori
Pierre-André Chiappori is a French-Monégasque economist currently E. Rowan and Barbara Steinschneider Professor of Economics at Columbia University. His research focuses on household behavior, general equilibrium and mathematical economics. Education Chiappori studied at École normale supérieure (Paris) between 1974 and 1979. During that period, he also studied at various Parisian universities, receiving degrees in mathematics, statistics, and economics. He graduated with a Ph.D. in economics from the University Paris I in 1981. Career Chiappori's first academic post was as an assistant professor at his alma mater, University Paris I. He then became a Maître de conférences at the Ecole des Hautes Etudes en Sciences Sociales in 1985, followed by an appointment at the CNRS and the Ecole Polytechnique. The ENSAE appointed him to professor of economics in 1992, he held this post while also being a senior researcher at the CNRS. He left France for a professorship at ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
