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The Luxury Axiom, The Wealth Paradox, And Child Labor

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  • C. Simon Fan

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    (Department of Economics, Lingnan University)

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    Abstract

    Basu and Van (1998) present a fundamental framework of child labor with two important axioms: the luxury axiom and the substitution axiom. A number of empirical studies, however, reveal a ¡°wealth paradox¡±. The current paper has two aims. First, it develops a model that provides an explanation for ¡°the wealth paradox¡± in light of the luxury axiom and the substitution axiom. Second, it helps understand the relationship between the luxury axiom and the substitution axiom.

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    File URL: http://www.jed.or.kr/full-text/36-3/2.pdf
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    Bibliographic Info

    Article provided by Chung-Ang Unviersity, Department of Economics in its journal Journal Of Economic Development.

    Volume (Year): 36 (2011)
    Issue (Month): 3 (September)
    Pages: 25-45

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    Handle: RePEc:jed:journl:v:36:y:2011:i:3:p:25-45

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    Related research

    Keywords: Child Labor; Luxury Axiom; Wealth Paradox; Substitution Axiom;

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    References

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    1. Ranjan, P., 1999. ""Credit Constraints and the Phenomenon of Child Labor"," Papers 98-99-12, California Irvine - School of Social Sciences.
    2. Matthias Doepke & Fabrizio Zilibotti, 2005. "The macroeconomics of child labor regulation," Staff Report 354, Federal Reserve Bank of Minneapolis.
    3. David N. Weil, 2007. "Accounting for The Effect of Health on Economic Growth," The Quarterly Journal of Economics, MIT Press, vol. 122(3), pages 1265-1306, 08.
    4. Basu, Kaushik & Das, Sanghamitra & Dutta, Bhaskar, 2007. "Child Labor and Household Wealth: Theory and Empirical Evidence of an Inverted-U," Working Papers 07-02, Cornell University, Center for Analytic Economics.
    5. Talia Bar & Kaushik Basu, 2009. "Children, Education, Labor, and Land: In The Long Run and Short Run," Journal of the European Economic Association, MIT Press, vol. 7(2-3), pages 487-497, 04-05.
    6. Atheendar S. Venkataramani & K.R. Shanmugam & Jennifer Prah Ruger, 2010. "Health, Technical Efficiency, And Agricultural Production In Indian Districts," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 35(4), pages 1-23, December.
    7. Cheolsung Park, 2010. "Children¡¯S Health Gradient In Developing Countries: Evidence From Indonesia," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 35(4), pages 25-44, December.
    8. Basu, Kaushik, 1998. "Child labor : cause, consequence, and cure, with remarks on International Labor Standards," Policy Research Working Paper Series 2027, The World Bank.
    9. Cigno, Alessandro & Rosati, Furio Camillo, 2005. "The Economics of Child Labour," OUP Catalogue, Oxford University Press, number 9780199264452.
    10. Hunt, E. H., 1986. "Industrialization and Regional Inequality: Wages in Britain, 1760–1914," The Journal of Economic History, Cambridge University Press, vol. 46(04), pages 935-966, December.
    11. Christelle Dumas, 2007. "Why do parents make their children work? A test of the poverty hypothesis in rural areas of Burkina Faso," Oxford Economic Papers, Oxford University Press, vol. 59(2), pages 301-329, April.
    12. Kruger, Diana I., 2007. "Coffee production effects on child labor and schooling in rural Brazil," Journal of Development Economics, Elsevier, vol. 82(2), pages 448-463, March.
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