Book contents
- Frontmatter
- Contents
- List of tables
- Series editors' preface
- Acknowledgments
- INTRODUCTION
- CHAPTER 1 LAW AND ECONOMIC GROWTH
- CHAPTER 2 PROPERTY: WATER AND LAND
- CHAPTER 3 EXTERNALITIES: SMOKE AND NOISE
- CHAPTER 4 MARKETS: CHILDREN
- CHAPTER 5 AUTONOMY: FAMILY LAW
- CHAPTER 6 PROMISSORY CREDIBILITY: SEX
- CHAPTER 7 CARTELS: COTTON SPINNING
- CHAPTER 8 CONCLUSIONS
- References
- Index
- POLITICAL ECONOMY OF INSTITUTIONS AND DECISIONS
CHAPTER 7 - CARTELS: COTTON SPINNING
Published online by Cambridge University Press: 21 September 2009
- Frontmatter
- Contents
- List of tables
- Series editors' preface
- Acknowledgments
- INTRODUCTION
- CHAPTER 1 LAW AND ECONOMIC GROWTH
- CHAPTER 2 PROPERTY: WATER AND LAND
- CHAPTER 3 EXTERNALITIES: SMOKE AND NOISE
- CHAPTER 4 MARKETS: CHILDREN
- CHAPTER 5 AUTONOMY: FAMILY LAW
- CHAPTER 6 PROMISSORY CREDIBILITY: SEX
- CHAPTER 7 CARTELS: COTTON SPINNING
- CHAPTER 8 CONCLUSIONS
- References
- Index
- POLITICAL ECONOMY OF INSTITUTIONS AND DECISIONS
Summary
Just once, you should come see a farming or fishing village. You won't find a single girl. All you'll see are shriveled old grannies. The girls are all gone, left the village for work.… We guys are left, but we're lonely. Real lonely. Even suppose I can take the loneliness. How am I going to find a wife? I want a wife so bad I'm going crazy. But no girl'll marry a poor farmer anymore. Even when they come back to the village from the factories, they've turned completely high-class. With their hair done up and perfumed and all, they won't even look at us.
It was a letter to the editor of a Tokyo daily newspaper. And it captured at least some of the economic impact of the textile industry. Having made a minor fortune in the textile mills, the women had raised their sights, and raised them high.
To explain why the textile workers were able to obtain these high wages, in this chapter I explore the informational logic to the employment arrangements they used. Because each firm was so large and because so many women regularly quit work to return home and marry, potential employees had access to a steady flow of verifiable information about their potential employers. Owners, however, did not have accurate information about their recruits, could not readily monitor each recruit's performance, and could not precisely verify what their plant managers told them.
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- Odd Markets in Japanese HistoryLaw and Economic Growth, pp. 135 - 162Publisher: Cambridge University PressPrint publication year: 1996
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