
Grabbing dinner in Shanghai.
Recently, I had a lecture on the economics of China’s evolving labor market. The lecture began by discussing the transition of China from a planned economy to a market economy. During the planned economy period, household roles were determined by the government, everyone was paid relatively equally and there was essentially no external market for labor. However, in the past couple decades, China has moved towards a capitalistic system with socialistic characteristics. This meant that households had the freedom to allocate their own time and employers were empowered with compensation and hiring decisions. On the other hand, unemployment would begin, job mobility will appear and inequality would arise. The class then began to focus on the inequality aspect of this transition, particularly the concept of inequality within the family. More specifically, an extensive discussion on the role of women within the household arose – a subject I would like to expand on.
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