Hierarchy of ideals in market interactions: An application to the labor market

Arbeitspapier

This paper argues that a hierarchy of ideals exists in market interactions that sets the benchmark on the norm of fairness associated with these interactions, thus affecting pricing decisions associated with market exchange. As norms emerge, an ideal determines the criteria of optimal behavior and serves as a basis for market exchange. Norms homogenize the diversity of commodities in market interactions according to a hierarchy of norms and values. The paper then goes on to illustrate how this hierarchy of ideals works in the labor market, leading to inequality of access to jobs and wages between groups of individuals. Groups socially perceived to be diverging from the context-dependent dominant ideal are likely to suffer most in market interactions.

Objekt anzeigen

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Working Paper ; No. 779

Klassifikation und Themen

• Klassifikation: Wirtschaft ; History of Economic Thought, Methodology, and Heterodox Approaches ; Price Level; Inflation; Deflation ; Wage Level and Structure; Wage Differentials ; Labor Discrimination ; Economic Systems: General
• Thema: Market Exchange ; Norms ; Optimality ; Labour Market

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Charles, Aurélie
• Ereignis: Veröffentlichung
• (wer): Levy Economics Institute of Bard College
• (wo): Annandale-on-Hudson, NY
• (wann): 2013

Weitere Informationen

• Handle: http://hdl.handle.net/10419/109985