ABSTRACT

Economists were almost exclusively concerned with behavior directly involved in the production and consumption of market goods and services. The expansion of economics seems driven by the irresistible power of ideas. The artificial demarcation of human behavior into rational and non-rational areas has been found unsustainable. Many economists have pioneered the application of economic theory to other disciplines. Human capital can explain differences in behavior that are usually attributed to matters of taste. Division of labor occurs not only in the market but also within the household. The household is a small firm that uses goods and services and the time of its members to produce a mix of commodities desired by its members. Severe division of labor within marriage makes economic sense, but over time, it tends to shift the balance of power within the family away from the female and toward the male.