Neoclassical and Sociological Perspectives on Segmented Labor Markets

54 Pages Posted: 15 Mar 2007

See all articles by Kevin Lang

Kevin Lang

Boston University - Department of Economics; National Bureau of Economic Research (NBER)

William T. Dickens

Northeastern University - Department of Economics; Federal Reserve Banks - Federal Reserve Bank of Boston; Brookings Institution

Date Written: 1987

Abstract

Neoclassical theory has been misrepresented in the segmented economy literature. Consequently, most tests of "structural" vs. "neoclassical" models are inadequate. Moreover, segmented economy theorists have concentrated on the least significant departures of segmented models from neoclassical economics. In fact, neoclassical economists have developed elements of a segmented labor market model which is similar to the segmented economy theories. We sketch this model and argue that the neoclassical model gives a precise meaning to the concept of dual or segmented labor markets but does not suggest that a classification system for job characteristics must rely on a single dimension.

Suggested Citation

Lang, Kevin and Dickens, William T., Neoclassical and Sociological Perspectives on Segmented Labor Markets (1987). NBER Working Paper No. w2127, Available at SSRN: https://ssrn.com/abstract=971612

Kevin Lang (Contact Author)

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William T. Dickens

Northeastern University - Department of Economics ( email )

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Brookings Institution ( email )

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