Culture and the Labour Market
attempts to define the meaning of culture and the nature of its possible consequences on economic processes and outcomes. In particular, the book examines alternative theoretical and empirical approaches to the economic analysis of cultural effects in the labour market. Using extensive new data from fourteen countries, the author finds tangible evidence of substantial cross-cultural differences in beliefs about wage inequality.
To enhance the study, Siobhan Austen looks in detail at the meaning and importance of social norms, shared beliefs and attitudes throughout the world. She examines recent trends in wage disparity around the globe and relates these to changing beliefs about the legitimacy of inequality. The results reveal that cultural norms relating to wage disparity actually alter with the experience of high levels of inequality. Significantly, the analysis also indicates that cultural norms have the potential to modify certain economic outcomes such as the wage structure and level of unemployment.
This comprehensive and highly original study of the economic influence of culture will be indispensable to labour and social economists. It will also be of value to academics working on labour market theory and policy, and the hitherto neglected link with culture.