This post was authored by Logan Rand
We hear it time and time again. We hear it from news sources, politicians, activists, and professors. We even hear it from our own President.
“Today, women make up about half our workforce. But they still make 77 cents for every dollar a man earns. That is wrong. And in 2014, it’s an embarrassment. Women deserve equal pay for equal work.”
We hear this proclamation that supposedly points to widespread wage discrimination against women, and then the argument that government needs to take more power to help those in need. But the real truth of the matter? Well this paints an entirely different picture.
Explanatory Economics
This statistic is created by looking at the median income earned by women working full-time and comparing it to the median income earned by men working full-time. This largely ignores any differences in jobs, training, and life choices, meaning…
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