The Division of Labour and the Allocation of Time

Monchi Lio ()
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Monchi Lio: National Sun Yat-Sen University

Chapter 12 in The Economics of E-Commerce and Networking Decisions, 2003, pp 248-264 from Palgrave Macmillan

Abstract: Abstract Compared to a typical family several decades ago, a contemporary family spends significantly less time on work, has more time for leisure, and consumes a wider variety of goods and services of better quality and in larger quantities. Most conventional theories explaining this phenomenon emphasize that improvements in technology and the accumulation of capital are the most important factors for this prominent feature in economic development. In this chapter, we will provide a supplemental explanation by focusing on how changes in economic organization affect time allocation and productivity, with special attention being paid to the extent of the market and the level of division of labour.

Keywords: Transaction Cost; Labour Supply; Wage Rate; Time Allocation; Consumption Activity (search for similar items in EconPapers)
Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-4039-3837-4_12

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DOI: 10.1057/9781403938374_12

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