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The Division of Labour and the Allocation of Time

In: The Economics of E-Commerce and Networking Decisions

Author

Listed:
  • Monchi Lio

    (National Sun Yat-Sen University)

Abstract

Compared to a typical family several decades ago, a contemporary family spends significantly less time on work, has more time for leisure, and consumes a wider variety of goods and services of better quality and in larger quantities. Most conventional theories explaining this phenomenon emphasize that improvements in technology and the accumulation of capital are the most important factors for this prominent feature in economic development. In this chapter, we will provide a supplemental explanation by focusing on how changes in economic organization affect time allocation and productivity, with special attention being paid to the extent of the market and the level of division of labour.

Suggested Citation

  • Monchi Lio, 2003. "The Division of Labour and the Allocation of Time," Palgrave Macmillan Books, in: Yew-Kwang Ng & Heling Shi & Guang-Zhen Sun (ed.), The Economics of E-Commerce and Networking Decisions, chapter 12, pages 248-264, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-4039-3837-4_12
    DOI: 10.1057/9781403938374_12
    as

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