identify the differences between neoclassical and segmented labor market theory?

Question

the writers are Cain and McNabb

Answer 1

Neoclassical: Buyers attempt to maximize their gains from getting goods, and they do this by increasing their purchases of a good until what they gain from an extra unit is just balanced by what they have to give up to obtain it. In this way they maximize "utility"—the satisfaction associated with the consumption of goods and services. Likewise, individuals provide labor to firms that wish to employ them, by balancing the gains from offering the marginal unit of their services (the wage they would receive) with the disutility of labor itself—the loss of leisure. Individuals make choices at the margin. This results in a theory of demand for goods, and supply of productive factors.

Segmented Labor markets
Commons concerning the structure of internal and external labor markets. What is most interesting from our perspective was the new light this work shed on possible reasons for the appearance of "segmented labor markets." Joan Robinson had developed a coherent analysis of segmented labor markets in terms of differential elasticities of supply of different laboring groups as early as the 1930s. 45 But the work of a new generation of institutionalists investigating segmented labor markets implied an alternative explanation: development of internal job ladders (or what was confusingly termed internal labor markets) within large firms might contribute to segmentation of external markets for labor. On the one hand, an explanation was sought on the supply side, and the traditional paradigm was no obstacle to developing the analysis. On the other hand, analysts looked to the demand side, and a detailed vision of the dynamics of the production process inside the traditional black box was required.

Answer 2

Segmented exertions markets refers back to the tendency for there to be distinctive sectors in the exertions industry. The so called time-honored sector with intense paying jobs that have job ladders with many rungs and the secondary sector with low paying jobs and few job ladder rungs. Segmented exertions markets frequently bring about segregated exertions markets, a topic the place a particulare team of persons occupy occupation in one section and yet another team occupy the occupations in the different. which comprise youths and youngsters occupying cleark/cashier positions in the retial sector mutually as extra older adults occupy the administration or government positions.