Labor Market Underpinnings of a Caste Economy: Foiling the Coase Theorem

Previous modellings by Akerlof and Scoville of a caste based economy, exemplified historically by India--in which occupations are hereditary, compulsory, and endogamous--are reviewed and contrasted. Coase/North arguments are advanced about the possible bases for labor market segmentation which would...

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Bibliographic Details
Published in:The American journal of economics and sociology 1996-10, Vol.55 (4), p.385-394
Main Author: Scoville, James G.
Format: Article
Language:English
Subjects:
Caste
CASTE SYSTEM
Competition
Dynamic modeling
Economic models
Economic Theory
ECONOMICS
EMPLOYMENT
Equilibrium
INDIA
Labor
Labor market
Labor markets
Labour market segmentation
Labour market structure
Market
Market segmentation
Marriage
Matrices
Permanence
Population dynamics
Population growth
Remarriage
Skilled workers
Social classes
Social impact
Studies
Transaction costs
WORKERS, LABORERS, AND WORKING CONDITIONS
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Summary:Previous modellings by Akerlof and Scoville of a caste based economy, exemplified historically by India--in which occupations are hereditary, compulsory, and endogamous--are reviewed and contrasted. Coase/North arguments are advanced about the possible bases for labor market segmentation which would render such a caste-type system immune to erosion by labor market competition. Historical and contemporary evidence is presented to support these arguments.
ISSN:0002-9246
1536-7150
DOI:10.1111/j.1536-7150.1996.tb02636.x