The Sociology of Traditional Economic Problems

Open Access
Publisher Website
Google Scholar
Abstract
The structural problem of wage or salary differentials as discussed in this article has been decomposed into four separate components: the differences in the mean wages/salaries between occupations; the differences in the standard deviations of wages/salaries between occupations; the mean wages/salaries within occupations across firms and industries; and the standard deviation across occupations within firms and industries. A fourfold typology of labor markets is suggested, and a number of hypotheses are offered as to why means and standard deviations vary. Market power is used to explain the differences among occupations across firms and industries. A typology of product markets and several hypotheses are suggested to indicate which firms and industries are more likely to have greater market power.

This publication has 9 references indexed in Scilit: