Previous modellings by Akerlof and Scoville of a caste based economy, exemplified historically by India - in which occupations are hereditary, compulsory, and endogamous - are reviewed and contrasted. Coase/North arguments are advanced about the possible bases for labor market segmentation which would render such a caste-type system immune to erosion by labor market competition. Historical and contemporary evidence is presented to support these arguments.
|Original language||English (US)|
|Number of pages||10|
|Journal||American Journal of Economics and Sociology|
|State||Published - Oct 1996|