PROBLEMS’ AND APPLICATIONS

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PROBLEMS’ AND APPLICATIONS 1. College students sometimes work as summer interns for private firms or the government. Many of these positions pay little or nothing. a. What is the opportunity cost of taking such a job? b. Explain why students are willing to take these jobs. 2. Suppose there are two labor markets: one in which […]

QUESTIONS FOR REVIEW

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QUESTIONS FOR REVIEW 1. Why do coal terrines get paid more than other workers with similar amounts of education? 2. In what sense is education a type of capital? 3. How might education raise a worker’s wage without raising the worker’s productivity? 4. What conditions lead to economic superstars? Would you expect to see superstars […]

CONCLUSION

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CONCLUSION In competitive markets, workers earn a wage equal to the value of their marginal contribution to the production of goods and services. There are,’ however, many things that affect the value of the marginal product. Finns pay more for workers who are more talented, more diligent, more experienced, and more educated because these workers are more productive. […]

CASE STUDY

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CASE STUDY DISCRIMINATION IN SPORTS As we have seen, measuring discrimination is often difficult. To determine whether one group of workers is discriminated against, a researcher must correct fer differences in the productivity between that group and other workers in the economy. Yet in most firms, it is difficult to measure a particular worker’s contribution to the production […]

DISCRIMINATION BY CUSTOMERS AND GOVERNMENTS

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DISCRIMINATION BY CUSTOMERS AND GOVERNMENTS Although the profit motive is a strong force acting to eliminate discriminatory wage differentials, there are limits to its corrective abilities. Here we consider two of the most important limits: customer preferences and government policies. To see how customer preferences for discrimination can affect wages, consider again our imaginary economy with blondes and […]

CASE STUDY

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CASE STUDY SEGREGATED STREETCARS AND THE PROFIT MOTIVE In the early 20th century, streetcars in many southern cities were segregated by race. White passengers sat in the front of the streetcars, and black passengers sat in the back. What do you suppose caused and maintained this discriminatory practice? And how was this practice viewed by the firms […]

DISCRIMINATION BY EMPLOYERS

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DISCRIMINATION BY EMPLOYERS Let’s now turn from measurement to the economic forces that lie behind discrimination in labor markets .If one group in society receives a lower wage than another group, even after controlling for human capital and job characteristics, who is to blame for this differential? The answer is not obvious. It might seem natural to […]

CASE STUDY

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CASE STUDY IS EMILY MORE EMPLOYABLE THAN LAKISHA? Although measuring the extent of discrimination from labor-market outcomes is hard, some compelling evidence for the existence of such discrimination comes from a creative “field experiment.Economists Marianne Bertrand and Sendhil Mullainathan answered more than 1,300 help-wanted ads run in Boston and Chicago newspapers by sending in nearly 5,000 fake resumes. […]

MEASURING lABOR-MARKET DISCRIMINATION

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MEASURING lABOR-MARKET DISCRIMINATION How much does discrimination in labor markets affect the earnings of different groups of workers? Tills question is important, but answering it is not easy. There is no doubt that different groups of workers earn substantially different wages, ‘as Table 2 demonstrates. The median black man in the United States is paid 22 percent […]

THE ECONOMICS OF DISCRIMINATION

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THE ECONOMICS OF DISCRIMINATION Another source of differences in wages is discrimination. Discrimination occurs when the marketplace offers different opportunities to similar individuals who differ only by race, ethnic group, sex, age, or other personal characteristics. Discrimination reflects some people’s prejudice against certain group s in society.Although discrimination is an emotionally charged topic that often generates heated […]