Heavy Lifting - thoughts and web finds by an economist
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Thursday, July 22, 2010
Assuming this story is accurate, which in today's world is becoming ever more difficult to justify, it is an interesting insight as to how the current folks think wages are determined:
This, of course, assumes (without any reason to do so) that men and women are equally productive in every job. Justifying wage increases on the basis of need not productivity/ability is not the way it is taught in most labor economics courses.
More here: White House Backs Bill to Collect Employee Pay Information from Businesses
Memory says that up thru 1970 or so it was pretty common for American businesses to pay married men about 25% more than unmarried men doing comparable work with comparable seniority. No one on earth thought this unreasonable or against economic tenets.Post a Comment
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