Work Behavior of the World's Poor: Theory, Evidence and Policy
The working poor of the world are observed to engage in long hours in hard jobs and to work more if wages are further reduced. Mainstream economics brushes off this tendency to increase labour supply as wages fall as perverse because it does not fit the conventional wisdom and tries to explain it as a result of subsistence mentality, limited aspiration, or target income behaviour of the poor. This however ignores the observed fact that the poor work long hard hours but most of the time, fail to meet their minimum needs of subsistence and live impoverished lives in absolute poverty deficient of both food and physical rest.
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Inverted 5The Complete Neoclassical
Poverty and the Forward Falling Labor Supply
A Technique for Estimating a Direct Utility Function
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adult advanced villages agricultural analysis backward bending Bangladesh Bardhan Cain consumption cross products derived developing countries distress sale dummy variables earning Econometric economic condition economic distress elasticity of substitution empirical employment estimates of labor evidence F-Statistics falling labor supply female workers food and physical forward falling function forward falling labor forward falling segment forward falling supply higher wages hypothesis implies income effect indifference curves individual involuntary unemployment John Burkett Journal labor market labor supply behavior labor supply function landholding households landholding workers landless and near-landless landless workers LDCs low wage lower wage rate male workers market supply minimum nutritional observed parameters percent physical rest poor village poor workers positive sloping PRW2 quantity of labor Rosenzweig SDUM self-employment Sharif standard of living studies subsistence income substitution effect supply curve supply of labor theory upward sloping segment utility function utility maximization wage rate wage-unemployment