SY101 Lecture Notes - Lecture 10: Gary Becker, Human Capital, Gender Pay Gap
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Document Summary
The functionalist perspective is very individualistic i. e. people are poor because they lack natural talents therefore they should not be rewarded: very hegemonic- looking to reproduce the dominant views. Neoliberalism: establishment of free trade increase in globalization: we end up becoming highly individualistic. Came up with the idea of human capital (theory) A person"s income is based on how much human capital they have. Education is an example of human capital: educational attainment. It is an investment, later on you will eventually exchange this for a reward (job: the more training you have the better the pay. Presumes that everyone is rational and would think this way. Presumes we live in a meritocracy: progress in is based on talent and ability. If you are valuable to society then you should have access to more resources. Collective judgements of by which society evaluates the worth of a person"s occupation with regards of how important it is to society.
