Originally posted on Kathryn Welds | Curated Research and Commentary:

Claudia Goldin

Claudia Goldin

Women pay for occupational “flexibility” in smaller paychecks than men in equivalent roles, according to Harvard’s Claudia Goldin, who analyzed higher-paying occupations, and found that women earn an average of 71 percent of men’s wages after controlling for age, race, hours and education.

However, she found significant differences across professional occupations, related to flexibility in work schedule and work location.
For example, women financial specialists earn 66 percent of men’s pay in the same field, but women pharmacists earn 91 percent of their male colleagues’ salaries.  Goldin-Womens salaries as percentage of mens

Comparable salaries were reported for male and female tax preparers, ad sales agents and human resources specialists, attributable to workers’ ability to substitute for each other.
Among medical professions, obstetricians and “hospitalists” have introduced “interchangeability” with trusted colleagues.

This difference is explained by higher pay for roles that require longer hours, physical presence for “office…

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It’s the Economics that Got Small

Posted: November 24, 2014 by Jim Rose in economics

Jim Rose:

Nice critique of experimental economics.

Bill Easterly made similar points about development economics and randomised controlled trials in the field.

These experiments focus you on the little questions and development economics, rather than the big questions such as the connection between economic progress, property rights, the rule of law and democracy.

Originally posted on Organizations and Markets:

| Peter Klein |

Joe Gillis: You’re Norma Desmond. You used to be in silent pictures. You used to be big.

Norma Desmond: I *am* big. It’s the *pictures* that got small.

John List gave the keynote address at this weekend’s Southern Economic Association annual meeting. List is a pioneer in the use by economists of field experiments or randomized controlled trials, and his talk summarized some of his recent work and offered some general reflections on the field. It was a good talk, lively and engaging, and the crowd gave him a very enthusiastic response.

List opened and closed his talk with a well-known quote from Paul Samuelson’s textbook (e.g., this version from the 1985 edition, coauthored with William Nordhaus): “Economists . . . cannot perform the controlled experiments of chemists and biologists because they cannot easily control other important factors.” While professing appropriate respect for the achievements…

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Image  —  Posted: November 24, 2014 by Jim Rose in applied price theory, applied welfare economics, Public Choice, rentseeking
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via Quotation of the Day….

organ

via An organ shortage kills 30 Americans every day. Is it time to pay donors? – The Washington Post.

Image  —  Posted: November 24, 2014 by Jim Rose in classical liberalism
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Original McDonald’s

Posted: November 24, 2014 by Jim Rose in economic history
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Image  —  Posted: November 23, 2014 by Jim Rose in applied price theory, applied welfare economics, human capital, labour economics, Marxist economics, poverty and inequality
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Three Theories of Justice

Posted: November 23, 2014 by Jim Rose in economics

Originally posted on Ethical Realism:

I will discuss three theories of justice: Mill’s Utilitarianism, Rawls’s Justice as Fairness, and Nozick’s libertarianism. Much of my understanding of theories of justice comes from Business Ethics (Third Edition) by Willian H. Shaw. I will expand my discussion of justice by considering objections to each of these theories, but I do not necessarily endorse any of the objections and there could be good counterarguments against them.

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