ECON 262 Lecture Notes - Lecture 1: The Minch, Comparative Advantage, Alimony
10 Dec 2017
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Primarily approach of neoclassical economics developed by becker and. Minch in 1960s- heyday of single, male ___ model. Point is only that are economic advantages to family formation, even if they are not primary reason for doing so. Note- home activites absolutely necessary to transform goods brought into. Assume family is a unit whose adult member make joint fractional decisions something that provides well being- e. g must cook food, cut grass etc includes leisure time where enjoy good and services purchased tv, books, and etc. Note: want to explain reality we observe so assume women have comp advantage in home production because still do majority of it, even if very successful in labour market. Use example to illustrate in notebook specialization and join production (trade) increase joint income and well being reinforce traditional male breadwinner, homemaker wife story. Now turn to other advantaes of family formation: 1.
