Question

I am doing a research paper, my question is what kind of economic model or theory am I describing if I were to do a paper on the economic impact of child labor from 1900-1940. If I were to describe the economic impact of the household, then describe the impact on the businesses, and then describe the impact on the economy as a whole(I would use these as 3 different sections and than in the conclusion bring it all together and describe the impact overall? what kind of economic model or theory best fits this description.

Answer 1

Economic benefits of child labor can be best explained using cost to benefits analysis and Theory of Exploitative child labor which has been well accredited by OECD and amongst UN sustainability development goals of 2020.

Child labor has seen rising impact on businesses in terms of higher litigation costs, loss of brand imagery and substandard production. The economy also has seen widescale implications like loss of national image, Human rights violation, national level litigation,etc. All in all it results in violation of UN goals and breach of OECD regulations and loss to human values.