I read this with interest as I had forgotten the differences between the various definitions. Thank you!
Also, may I ask, how do you see the following as causing the demand to fall?
"For example, changing work from unpaid to paid might cause the demand for cleaning and childcare services to fall."
Some demand must still remain as there as a level of cleanliness and child-rearing that is necessary for a society, yes? Or does society adapt to the rising prices by having fewer children and sleeping less? Or does your example assume, for the sake of argument, that ALL of that unpaid work changes to paid? Having trouble imagining what you mean by your example and I wish to follow along! Thank you. :)
Yes, if the work remains unpaid at-home work or underpaid under-the table work. But, hypothetically, if we were to pay everyone for the time they spend at home raising children, then because of payment for home work, the demand for workers outside the home would fall.
I didn’t think about the demand for children (birth rates) falling. I can’t honestly say which way that would go. If women (usual childcare providers) got credit in the labor market for their work inside the home, then they might want more children!
I read this with interest as I had forgotten the differences between the various definitions. Thank you!
Also, may I ask, how do you see the following as causing the demand to fall?
"For example, changing work from unpaid to paid might cause the demand for cleaning and childcare services to fall."
Some demand must still remain as there as a level of cleanliness and child-rearing that is necessary for a society, yes? Or does society adapt to the rising prices by having fewer children and sleeping less? Or does your example assume, for the sake of argument, that ALL of that unpaid work changes to paid? Having trouble imagining what you mean by your example and I wish to follow along! Thank you. :)
Yes, if the work remains unpaid at-home work or underpaid under-the table work. But, hypothetically, if we were to pay everyone for the time they spend at home raising children, then because of payment for home work, the demand for workers outside the home would fall.
I didn’t think about the demand for children (birth rates) falling. I can’t honestly say which way that would go. If women (usual childcare providers) got credit in the labor market for their work inside the home, then they might want more children!
No wonder they call it Freakonomics!
Ah, now I am following: if all unpaid home work became paid then, yes, I can see outside demand falling. Thank you for the clarification!