Week 7 Flashcards
Labour market definition: finish this sentence “the arenas……”
The arenas in which workers exchange their labour power in return for wages, status, and other job rewards
Labour market definition: finish this sentence “the institutions….”
The institutions and practices that govern the purchase, sale, and pricing of labour services
Workers supply for employer’s _______
Demand
Labour market: 3 things that workers supply
Skills
Knowledge
Loyalty
Labour market: 4 things that employers supply
Pay
Status
Career opportunities
Other rewards
Labour market actors: multiple actors influence BOTH _______(hiring) and _______(contracts)
Allocation
Pricing
List the 5 groups of labour market actors
Individual workers
Individual employers
Workers’ associations
Employers’ associations
Governments
Classical economic theory: workers and firms maximize _______ in a _____ market
Utility
Competitive
“Workers and firms maximize utilities in a competitive market”
List the 2 crucial assumptions of this
Complete information
Cannot influence price
Classical economic theory: _______ reflect supply and demand
WAGES
Classical economic theory: possession of _____/______/______/ that are scare or desirable lead to ______ wages
Education/skills/ability
Higher
“Skill” definition: the ability…….
The ability to use one’s knowledge effectively and readily in execution or performance
“Skill” definition: dexterity or…..
Dexterity or coordination especially in the execution of learned physical tasks
“Skill” definition: a learned…..
A learned power of doing something competently: a developed aptitude/ability
“Skill” Bills definition
“Any capacity to get things done”
3 “vs.” categories for skills
General vs specific
Hard vs soft
Individual vs job
Human capital theory: “the skills…”
The skills the labour force possesses and is regarded as a resource or asset
Human capital theory: school imparts ______ that will _________ more ______ in the labour market
Skills
Command
Rewards
HCT: perfect ______ for good jobs in an “____” labour market
(And give example)
Competition
Open
(Full information)
HCT:
human ______= better ______
Human capital = better jobs
HCT: Define “human capital”
Investment in education and training
HCT: Define “better jobs”
(2 words)
Higher returns
HCT: employers make ________ hiring ______
Rational
Decisions
HCT: what is meant by “employers making rational hiring decisions”
Best people match to best jobs
HCT: is a ______ process, also called a “______”
Fair
“meritocracy”
HCT: individuals and society are ______ ______
Best served
Critiques of HCT: often doesn’t have good _______ of _____
Measures of skill
Labour market segmentation theory:
questions ______, open ______ markets
Single
Labour
Different include industry/employers offer work opportunities that different rewards
Is what theory
Labour market segmentation theory
What does labour market segmentation theory highlight
(List four of these barriers)
Highlights restricted movements between labour market, sectors
(Education, cultural capital, connections, labor, market “closure”)
Who is in the core sector of the labour market?
Large, powerful companies, also government
Who is in the periphery sector of the labour market
Smaller, more competitive firms, also self-employed
Does the core or periphery sector have higher productivity and profit
Core
Is the core sector capital intensive or labor-intensive?
Capital
Is the Perry Siri sector capital intensive or labor-intensive?
Labour-intensive
Between the court in Perry fairy sectors, which one is often unionized
Core
Is the primary or secondary labour market better
(Give three reasons why)
Primary labour market
(Higher wages, better benefits, more job security)
International labour market: competition restricted to ______ ______
Entry point
What theory is this
Human capital theory
Human capital theory: school in parts skills that will command more ______ in the labour market
Rewards
Human capital theory: what does investment in education and training equal?
Better jobs
Human capital theory: human capital = ____ ____
Higher returns
Human capital theory: best people match to _____ jobs, fair process (“______”)
Best
“Meritocracy”
Human capital theory: individuals and society our best _____
Served
Three critiques of human capital theory
Often don’t have good measures of skill (is education a skill)
Where are the employers?
Is there a quality of educational opportunity?
Define meritocracy
A society where jobs and pay our allocated based on an individual’s talent and achievements rather than social status
Human capital theory ignores intragenerational _____ ____ ____
Transfer of advantage
Defined the idea of cultural capital
Schools encourage and reward the language, beliefs, behavior, and competencies of the more powerful groups in society
And middle class cute spring more of this cultural capital to school with them, so have an advantage
What does SES stand for?
Socio economic status
Define socioeconomic status
The position of an individual or group that is determined by a combination of social and economic factors like
Income
Amount and type of education
Type in prestige of occupation
Place of residence
What does labour market segmentation theory question
Question, single, open labour market
(Different industries/employers hat, offer, work opportunities that different in rewards)
What does labour market segmentation theory highlight
Highlights restricted movement between labour market, sectors
What sectors is the primary labour market and secondary labour market related to
Primary- core
Secondary - periphery
Defined the dual economy perspective
How capitalist economies changed with a few large and powerful firms coming to dominate key industries
What 4 things are related to the dual economies perspective?
Core (primary labour market)
Periphery (secondary labour market)
Define market closure
The ability of professionals to shape the labour market to their advantage, rather than simply responding to it as the most occupational groups
What two things have led to labour market, polarization
Industrial restructuring
The growth and non-standard work
How are public and private spheres of the market and household related?
They’re intertwined in diverse Waze during all phases of economic development
Public and private spheres of market and household:
Which rules do women perform?
Which rules do men perform?
Women perform the pivotal roles
(Quite different from those performed by men)
Define social reproduction
The unpaid domestic labour of women
(Raising the future generation of workers and caring for the present generation of workers)
Define family wage
A labour movements demand where wages should be high enough for a male breadwinner to support a wife and children
(Movement led by men)
Women are more likely to be ___ ____ than to ____ ____
Shut out
Opt out
Define horizontal segregation
Gender segregation across distinct occupations
Define vertical segregation
Gender segregation at different levels within the same occupation
What two things plane equal role in shaping women’s work
Maternal walls
Glass ceilings
Define a glass ceiling
Barriers to advancement that persist, despite formal policies designed to eliminate them
Do women still encounter glass ceiling
Yes
What is the great equalizer in human capital theory
Education
Two main competing series of how labour markets operate
Human capital theory
Market segmentation theory
Define homophily
To reduce uncertainty, managers, recruit, and promote people like themselves
What is another term for homophily
Social cloning
What is the problem with homophily
Social cloning, reproduces male dominance in management, creating big barriers for women
Define tokenism
The practice of hiring someone who belongs to a minority group, only to prevent criticism and give the appearance of people are being treated fairly
Woman who do succeed and entering management face what problem
Tokenism
What do tokens lack for surviving in the middle and upper ranks of organizations?
Support systems
2 things that have led to labour market polarization
Industrial restructuring
Growth in nonstandard work
Define labour market polarization
A gap where most employment opportunities are at the lowest and highest levels, and few jobs for those with mid-level skills
Define occupational choice
Individuals develop through growth and exploration stages, a perception about themselves that they can seek to match with particular occupations
Define labour market
Arena, in which employers want to purchase labour from potential workers were seeking jobs, suitable to their education experience and preferences
Workers exchange skills, knowledge, and loyalty for P status and rewards
Who sets up labour market shelters
Unions and professional associations
What is the goal of labour market shelters?
(2)
To improve job security
To improve income security
