Sociology

Economy  Society
1. This refers to the pay in exchange for a service offered by an individual. The general law here is more of reciprocal than payment and the amount of pay largely depends on the relationship between the person paying and the person receiving the payment. In essence the general consideration of the effort bargain translates to the relationships at the workplace.

In the standard bargain theory, all workers need to be given is limited restrictions.Ultimately the wage bargain process within this theory is not only meant to cushion the workers but also the owner of the business from any loss. In general the wage bargain is about relating wage bill and labor effort being given by the worker. It also gives a relationship between, time worked and time one is out of work. The theory argues that sometimes even out of the workplace individuals may engage their brains in matters of the company. (James Alan Jaffe p. 158)

2. The initial representation of women in the labor market has been quite low. However the general increase in demand for labor has dragged the women into the fray. This increase has similarly been precipitated by the changes in technological advancement that has created sectors in dare need for women services. In addition the rise in skill demand has made the educated woman get a chance in the labor market. Similarly, the changing demographics such as divorce have also forced the women to engage in some productive activity to make ends meet. It is also argued that the single woman can very effectively engage in very productive division of labor.

The increase has also been prompted by the fall in male wages. This has had a direct effect to house holds. With strained household income the female have been forced to try and supplement the efforts of the male. This coupled with the other reasons has seen the general increase in female labor increase by 2.5  in the 1970s. This trend has been strengthened by the fact that women education campaigns have been beefed up hence offering them a relatively equal chance to access opportunities
 Jacobsen P, C, p. 106-115.

3 The gender income disparity in Canada has remained high despite the increased educational level of women. Despite the egalitarian push for evasion of gender based attitudes the gap has had two main and risky trends stagnant or increasing. Vividly, the gap between male income and female income may not be going away in Canada any soon.

The main causes have been largely the low level of education. While it is appreciable that women are now making a lot of advances in their studies, the relative proportion is quite low. Besides they are being offered a relatively low pay compared to men. This makes the gap remain big despite the fact that they are in the same job.

The worst part of the whole mess is that it is as a result of the general attitude that women should remain in the house and undertake house chores. In cases where women are in employment they are compelled to spend much of their proceeds in the house denying them the chance to invest.  This lack of investment for women perpetuates the whole state of income inequality.

Par  HYPERLINK httpwww.lepanoptique.comauthora168 o Articles par Ian Thomas MacDonald Ian Thomas MacDonald, 2008

6 The gap in income inequality has been perpetuated by the fact that they are major differences between the occupational training of male and female. The household responsibilities have also contributed to this gap. This is resultant from the fact that women may be prone to career interruptions and have relatively differing educational level from those of men. Further, women tend to choose careers that tend to be crowded.

There are also profound differences in the establishments that could cause the trend to persist. The earnings between the married man and married woman tend to become bigger due to the house hold responsibilities. It is similarly adduced that the women dont acquire skills that are readily required in the labor market. This reduces the chances of the women in accessing jobs in the labor market.

Some jobs have very specific gender preferences. While this preference may not be easily established, it plays a key role in the prospects of women in the labor market.

Paul Burstein, p 212.
PART 2
1. In the bond market some times the traders will take advantage of the traders ignorance, this is in utter disregard of the first principle in which bond market traders are expected to be made up of trusted, obliged and reputable people. Apparently in the Wall Street any ignorant partner was meant to pay for their ignorance. Besides, the bond market traders may just conceal the truth deliberately.

In some cases they may even offer the false information to the buyers. In addition traders show bid on the market then they withdraw the bond artificially creating a shortage. This in turn increases the price of the bond. When the seller bring the bond back in the market, the impression has already been created that there bonds are in short supply. This offers a basis for hiking the bond prices. On the contrary, the bond traders sometimes pretender as though they have no specific interest in the bid, this makes the seller feel desperate consequently he opts for a lower price. Ironically however when the seller comes in the market to buy the same bond the price is so hiked beyond his offer price.

Bond market traders openly engage in front running. They are exceedingly keen on the market trend, once they establish an impending demand they will buy the bond and wait for the buyer. When the prospective buy comes into the market they sell it to him at a hiked price, sometimes twice the buying price. Ultimately, the bond traders practicing within Wall Street were initially opportunists.

The advent of hyper rationality did not make the bond market traders any better. The made sure they were ahead of everyone by ensuring they had all information from all information bureaus to utilize the information in reaping maximum from the customers. Though the tact this time around becomes organized, their profits were based on ignorant distortion. In this market the basic concept was sorting, counterchecking and coming up with some value. Once the information is gathered intuitive thinking is applied to determine the next move. The move however doesnt have to be logical but profitable.

In a nutshell bond trading does not require integrity. It calls for clear focus on the goals and proper strategizing, a real contradiction from the initial perception on the players as trusted, obligation oriented and reputable.

3. Child labor was taken as the cheapest with the least human value. At the onset the proponents of child labor only contentiously argued on what exactly was acceptable labor for children. There did not openly support the whole idea of child labor. Basically the child was only to be used make an alternative earning for the family. These frequent conflicts led to the review of the role of the child in economic development. The argument was that by the age of between six and eight the children were expected to assume the role of little adults.

Zelizer also referred to the Puritans who believed that dependents can be best used by assigning them some work. Similarly it was argued that child labor saved the enormous expenses expected from the automation of industries. Apparently the formative laws on education only questioned the minimum level of education that was required for any child to work rather than the age. Initial movements on child labor only sought to define the amount of labor and the level of schooling that one required.

The demise of child labor in the 19th century was engineered by the improved living standard that was becoming relatively inherent. Hitherto, the general living standards of households were quite low.

Osterman asserts that it is the youth labor that ostensibly pushed child labor out. Evidently there were other factors that came into play such as the utter demand for skilled labor. He asserts that because of the reduced demand for child labor it was possible for those pushing for abolition of child labor to pull through.

The development of technology further pushed child labor into total clearance. Children then were only used as sales clerks. Fortunately for the activists again, the cash registers took up few of the jobs that had remained for the children. Mainly, the bone of contention remained the satisfactory definition of the childs role economically. Apparently the law that was in place was only specific to mining and manufacturing. Further, the laws had so many loopholes that could readily allow for manipulations.
Children were allowed to work to support their widowed parents to make ends meet, such were the inherent loopholes. Enforcement was another of the many obstacles. With this loophole law enactment agencies saw the least need in enacting further laws. If a commentators assertions are anything to bank on, then the vice was highly entrenched in society that any attempt to remove the vices was tantamount to breaching family values. Within the precincts of this preposition underplays the purported threat on family relations. 

4. Human capital refers to the competencies, personal attributes and the general stock of knowledge that an individual has that can be used in the process of creating utility.  These attributes are ordinarily acquired through education. This resource has generally been considered to be both homogeneous and readily interchangeable.

Individual with a better educational background were expected to have a high mobility rate compared to those with a lower level of education. Similarly there are expected to earn a relatively high income than those with a lower educational ground. In addition, such labor force would have high demand.

Apparently, increase in education is inversely proportional to the unemployment rates. Evidently, the increase in the level of education is directly proportional to its the level of the projected pay. This is resultant from the fact that most educated people can readily apply the current and emerging technological order. Apparently, returns on human capital are measured relative to the level of education.

Presumably, it is assumed that the productivity of labor increases with increase in education. Relatively, this accounts for relationship between education and the apparent wage bill. Similarly, individuals with high levels of education have high chance of crossing borders than the less education. Unskilled labor tends to be very restricted with national and regional barriers.

Lastly, its most probable that individual with high and quality education can readily evaluate the returns of any labor venture. Within this assessment, they stand high chance of identifying better opportunities and being readily absorbed. This ability to assess returns lacks among the less educated hence implying that they can not readily move. Similarly, the individual with less education feels moving to the next opportunity would simply offer some risk.