Intro to Econ: Tenth Lecture Aside – Equal Opportunities

In this post I want to use the model and insight of the previous post to talk about equal opportunities. With this I mean the idea that everyone has the same access to education. I will argue that it is not for fairness but for efficiency reasons why a social planner might prefer a world with equal opportunities. I should also add that this post is a bit fanciful and one could possibly disagree with the way the argument goes. Take it with a grain of salt.

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Intro to Econ: Tenth Lecture – The Job Market

There are many ways we can think about the job market. I believe that I said it before that we should build a model of whatever we are studying only after we specify what exactly we are interested in. And when it comes to the job market there are many things we might be interested in. For instance, we could be especially interested in unemployment: What determines whether someone is unemployed? What consequences does unemployment have for other family members? How do unemployed people find a job again? We could also be especially interested in how many members of a household work and how much and how this is decided at the household level. Why do some people work full time and some part time? We could also be especially interested in how people prepare themselves for the job market. How do people decide which career path to choose? How do they decide what to learn? There are so many things we could be interested in and I believe that each different question will need its own model, where one focuses on the salient features of the job market for that particular question.

In this post I am perhaps being a bit eclectic but I want to think about which person gets which job. That is, I want to think about how the job market allocates people to jobs.

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