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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: household consumption, 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. Similarly, J.S. Mill and Le Play analysed the impacts of different family structures on the standard of living of different family members through redistribution of family resources, insurance and self production. 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 consumpt ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Thomas Robert Malthus
Thomas Robert Malthus (; 13/14 February 1766 – 29 December 1834) was an English economist, cleric, and scholar influential 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 use abundance for population growth rather than for maintaining a high standard of living, a view and stance 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 E ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pareto Efficiency
In welfare economics, a Pareto improvement formalizes the idea of an outcome being "better in every possible way". A change is called a Pareto improvement if it leaves at least one person in society better off without leaving anyone else worse off than they were before. A situation is called Pareto efficient or Pareto optimal if all possible Pareto improvements have already been made; in other words, there are no longer any ways left to make one person better off without making some other person worse-off. In social choice theory, the same concept is sometimes called the unanimity principle, which says that if ''everyone'' in a society (strict inequality, non-strictly) prefers A to B, society as a whole also non-strictly prefers A to B. The Pareto frontier, Pareto front consists of all Pareto-efficient situations. In addition to the context of efficiency in ''allocation'', the concept of Pareto efficiency also arises in the context of productive efficiency, ''efficiency in prod ... [...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 dividend, ... [...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 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 approach she views marriages and c ... [...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, in a Jewish family, Mincer survived World War II in concentration camps in Poland 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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Standard Budget
A standard budget is a household budget that lists the 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 co ... [...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 of wealth, 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, 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#Population growth, Thomas Robert Malthus' model of population growthThomas Robert Malthus, 1798. ''An Essay on the Principle of Population''. s: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 Marxian economics, Marxist and ... [...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. The breadwinner model largely arose in western cultures after industrialization occurred. Before industrialization, all members of the household—including men, women, and children—contributed to the productivity of the household. Gender roles underwent a re-definition as a result of industrialization, with a split between public and private roles for men and women, which did not exist before industrialization. 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 wome ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nash Equilibrium
In game theory, the Nash equilibrium is the most commonly used solution concept for non-cooperative games. A Nash equilibrium is a situation where no player could gain by changing their own strategy (holding all other players' strategies fixed). The idea of Nash equilibrium dates back to the time of Cournot, who in 1838 applied it to his model of competition in an oligopoly. 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 theirs 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 Bob has no other strategy available that does better than B at maximizing his payoff in response to Alice c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pierre-André Chiappori
Pierre-André Chiappori is a French- Monégasque economist who is currently the E. Rowan and Barbara Steinschneider Professor of Economics at Columbia University. His research focuses on household behavior, general equilibrium and mathematical economics. He has been the Counsellor of Finance and Economy since 18 March 2024. Education Chiappori studied at the École normale supérieure in 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 Université Paris I Panthéon-Sorbonne in 1981. Career Chiappori's first academic post was as an assistant professor at his alma mater, the Paris 1 Panthéon-Sorbonne University. He then became a maître de conférences at the École des hautes études en sciences sociales in 1985, followed by an appointment at the CNRS and the École Polytechnique. He became a professor of econom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Adam Smith
Adam Smith (baptised 1723 – 17 July 1790) was a Scottish economist and philosopher who was a pioneer in the field of political economy and key figure during the Scottish Enlightenment. Seen by some as the "father of economics"——— or the "father of capitalism".———— He is known for two classic works: ''The Theory of Moral Sentiments'' (1759) and ''The Wealth of Nations, An Inquiry into the Nature and Causes of the Wealth of Nations'' (1776). The latter, often abbreviated as ''The Wealth of Nations'', is regarded as his ''magnum opus'', marking the inception of modern economic scholarship as a comprehensive system and an academic discipline. Smith refuses to explain the distribution of wealth and power in terms of divine will and instead appeals to natural, political, social, economic, legal, environmental and technological factors, as well as the interactions among them. The work is notable for its contribution to economic theory, particularly in its exposition o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
