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Assessing the New Home Economics with 2020 Vision

In: Constructing a More Scientific Economics

Author

Listed:
  • Shoshana Grossbard

    (San Diego State University
    University of Illinois at Urbana-Champaign)

  • Andrea H. Beller

    (San Diego State University
    University of Illinois at Urbana-Champaign)

Abstract

In the early 1960s, Becker and Mincer placed households and what they produce at the center of economic analyses dealing with consumption, labor markets, household decisions regarding health, children, and marriage. This school of thought was labeled the New Home Economics (NHE). This chapter provides an assessment of the NHE. Our first contribution is defining the NHE to help determine which other researchers can be considered as being part of the NHE. Second, we offer an assessment of the NHE’s success based on five criteria: awards to its participants, integration of ideas into mainstream economics, NBER’s inclusion of new NHE-led applications of economic investigation, growth of new organizations promoting NHE-related research, and the academic success of early students of Becker and Mincer specializing in NHE.

Suggested Citation

  • Shoshana Grossbard & Andrea H. Beller, 2022. "Assessing the New Home Economics with 2020 Vision," Palgrave Advances in Behavioral Economics, in: Morris Altman (ed.), Constructing a More Scientific Economics, chapter 0, pages 255-280, Palgrave Macmillan.
    • Handle: RePEc:pal:paichp:978-3-030-83928-4_12
    DOI: 10.1007/978-3-030-83928-4_12
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