Arestis, P, Charles, A and Fontana, G (2014) Identity economics meets financialisation: gender, race and occupational stratification in the US labour market. CAMBRIDGE JOURNAL OF ECONOMICS, 38 (6). 1471 - 1491. ISSN 0309-166X
Abstract
Throughout his career Geoff Harcourt has constantly and consistently highlighted the role of social norms and collective decisions in his study of modern economies. In doing so he has put a great deal of emphasis on the distribution of income between different social groups, especially so when concerned with the labour market. This article attempts to celebrate this particular aspect of his numerous contributions to economics by highlighting the role of social norms in influencing earnings across occupations and demographic groups in the USA. Social norms generate hierarchy, economic and non-economic inequalities amongst ascriptively distinguished groups. Drawing on the stratification and identity economics literatures, this article proposes a novel theoretical and empirical framework for analysing the effects of financialisation on the earnings dynamics of gender and race groups, a framework that is consistent with discrimination as a source of racial and gender inequality. The empirical methodology used in the form of long-run cointegrating relationships of groups’ earnings across occupations assesses whether a pattern of social norms on wage distribution emerges over time. The results of this study show that over the past 30 years social norms have exacerbated the stratification of the US labour market.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © The Author 2014. Published by Oxford University Press on behalf of the Cambridge Political Economy Society. All rights reserved. This is a pre-copyedited, author-produced PDF of an article accepted for publication in Cambridge Journal of Economics following peer review. The version of record Philip Arestis, Aurelie Charles and Giuseppe Fontana, Identity economics meets financialisation: gender, race and occupational stratification in the US labour market, Cambridge Journal of Economics, 38, 6 (2014), 1471-1491, is available online at: http:/dx.doi.org/10.1093/cje/beu024 |
Keywords: | Identity Economics; Financialisation; Great Recession; Income Inequalities; Race Stratification; Gender Stratification; Social Norms |
Dates: |
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Institution: | The University of Leeds |
Academic Units: | The University of Leeds > Faculty of Business (Leeds) > Economics Division (LUBS) (Leeds) |
Depositing User: | Symplectic Publications |
Date Deposited: | 27 Jul 2015 10:36 |
Last Modified: | 28 Jul 2016 07:17 |
Published Version: | http://dx.doi.org/10.1093/cje/beu024 |
Status: | Published |
Publisher: | Oxford University Press |
Identification Number: | 10.1093/cje/beu024 |
Related URLs: | |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:87724 |