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ECO261H5 (9)
Lecture

labour market theories.docx

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Department
Economics
Course
ECO261H5
Professor
Reid/ Curran
Semester
Winter

Description
Theoies of Labour markets 1. Human Capital Theory  Jobs which require more effort, training, skills receive greater rewards  System where everyone competes openly and fairly for jobs  Outcome : efficient + productive economy , allocation of job rewards are fair  Riskier jobs have higher rewards  Emphasises supply side of labour market  Consensus view of society  Focuses on characteristics of people which determines their choice of career Critique  Most dangerous/ un healthiest jobs are not always the best paid  Youth employment and their careers don’t match up to their amount of education attained  Returns on education are obtained in CERTAIN industrial sectors/ employers  Ignores class structure and unequal power relationships  Certain groups are more likely to have higher education ( social structure, tuition fees, advantaged children are “gifted” )  Based on HCT, we should see circulatory intergenerational mobility but often see inheritance of mobility  Mobility often is class based not merit based  HTC cannot explain why gender segregated labour markets exist ( e.g. women are employed mostly in certain industries with limited promotional opportunities)  Canadian labour market are not “ open” ( foreign born Canadians face less upward mobility than others)  Existence of gender inequality (occupational gender segregation) o Horizontal occupational gender segregation : concentration of men and women in different occupations (women in job ghettos, men in shelters)  Traditional values of child rearing  Men oppose women entering workforce because of their fear of wage undercuts  Definition of femininity and masculinity associated with jobs  Gendered nature of non- standard work 
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