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Essay / Research Paper Abstract
This 2 page report discusses the significant approaches to the economic analysis of labor market discrimination as formulated by 1992 Nobel Prize winner Gary Becker. Applying economic analysis to socio-political behaviors, such as labor market discrimination, provides valuable insight into the larger issues of human interactions. Bibliography lists 2 sources.
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2 pages (~225 words per page)
File: D0_BWlabor.rtf
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individuals. Becker claims that individuals make rational decisions according to the economic incentives that they face. Therefore, the labor market which is comprised of individuals seeking work and providing
work is also subject to the potential for labor discrimination in much the same way that discrimination presents itself in other social and interactive situations. According to Rosen (1993),
writing in the announcement of Beckers Nobel award, the four main areas of Beckers investigation are human capital, the economics of discrimination, household economics, and the economics of crime and
punishment. Over the past thirty years, the connection between ethnicity and economic inequality at all levels of the structure of an economy has
gained considerable attention. For example, it is wholly appropriate, as Becker shows to apply a fixed effects model in order to determine the extent of wage discrimination between male
and female workers. Analyses of the wage equations show that discrimination between men and women workers exist in the reward structures for labor market experience, enhanced by non-participation of women
due to marital or other personal factors. The model infers that women could earn significantly more without discriminatory practices. As a result, it is clear that factors that would
normally be applied to objects or processes in a "traditional" economic problem and analysis may be equally applied in terms of the aspect of human economics.
For example, such a process is seen in the econometric approach to the experience originating within one unique worker which then "replaces" actual experience in
that womans symbolic representation of earning capacity with the predicted value of what others perceive as her marketable and meaningful experience. However, experience is defined and thereby predicted as a
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