
Scott Freeman on monetarism
16 Sep 2026 Leave a comment
in business cycles, econometerics, economic history, history of economic thought, labour economics, macroeconomics, Milton Friedman, monetarism, monetary economics, unemployment Tags: quantity theory of money

Richard Epstein on property rights, and anticipatory wars too
15 Sep 2026 Leave a comment
in defence economics, economic history, International law, law and economics, laws of war, Richard Epstein, war and peace Tags: Israel
Money and output: correlation or causality
14 Sep 2026 Leave a comment
in applied price theory, business cycles, economic history, financial economics, history of economic thought, macroeconomics, Milton Friedman, monetarism, monetary economics Tags: quantity theory of money


How to Make Life Better for the Middle Class (and Everyone Else)
14 Sep 2026 Leave a comment
in applied price theory, economic growth, economic history, macroeconomics, politics - USA Tags: The Great Enrichment
I have a four-part series (here, here, here, and here) documenting that Americans are getting richer over time, yet many people feel pessimism and dissatisfaction. This Kite & Key video helps to explain this seeming contradiction. If you don’t want to watch a 10-minute video, here are two charts that summarize the message. This first […]
How to Make Life Better for the Middle Class (and Everyone Else)
The gender wage gap is fading away
13 Sep 2026 Leave a comment
in applied price theory, discrimination, economic history, economics of education, gender, human capital, labour economics, labour supply, occupational choice, politics - New Zealand, poverty and inequality Tags: feminism, gender, gender wage gap, history, politics, sex discrimination, women
The gender wage gap has dropped by two-thirds in the last 30 years. It has halved since the first pay equity claim was filed 14 years ago. The gender wage gap is now barely 5.5% in June 2026 according to the recently released Statistics New Zealand data. It is a stretch to file pay equity claims asking for 30% more when the gender wage gap struggles to stay above 5%.
The gender wage gap data released by Statistics New Zealand recently is the raw data. There are no adjustments to that pay gap for differences in educational backgrounds, continuity of employment and dedication to demanding careers, unsocial hours, risk of injury, and the greater desire of women for work-life balance and jobs with more working from home options.
It is not mischievous to say that the gender wage gap may round down to zero once these factors are considered.
From time-to-time, detailed datasets become available on male and female workers that show that the gender wage gap goes down or close to zero. There are even detailed datasets where hiring and job assignments are made without any management intervention or possible bias.
There is a large gender wage gap driven by work-life balance under a bus and train drivers’ collective agreement in Massachusetts. The work-force was one-third female with hiring via a lottery among applicants with a clean record. Shifts are chosen by drivers strictly according to their seniority at each depot.
There was still a 11% gender wage gap because women drivers elected to work less overtime, they avoided overtime shifts on short notice, and they worked fewer shifts at nights and weekends. This gender wage gap among bus and train drivers cannot be the fault of their sexist employer because work was allocated by an exceptionally detailed union contract.
A 7% gender wage gap emerged even when a computer algorithm is allocating the work first come, first served.
A study of Uber drivers found a gender pay gap of zero once account is taken for male Uber drivers driving more at nights, weekends and in the more dodgy neighbourhoods with drinking establishments. Male Uber drivers also worked more hours per year which meant they had much more work experience than female Uber drivers. These additional hours meant men became more skilled in deciding when and where to best cruise for the best paying jobs. The fact that men drive faster explained the last two percentage points of the gender pay gap at Uber. Speed meant men were available for the next Uber job quicker.
The gender wage gap is just into the double digits for the top 10% of female earners in New Zealand in 2025 (see OECD graphic). This is because their chosen careers are often not family friendly. But even at the top end of town the gender pay gap has halved in the last 20 years.

OECD data explorer
Women’s willingness to trade work-life balance for lower wages and fewer promotions is a big driver of the gender wage gap and the channelling of women into family friendly occupations. The wages of men and women at all levels are similar in the years leading up to motherhood then everything changes.
Top American labour economist Claudia Goldin found that some careers severely penalise any time off such as for motherhood or working less than punishingly long or rigid hours. Goldin refers to these jobs as greedy jobs. Women’s preference for family friendly occupations that can pay less and a tendency to avoid greedy jobs will mean that the gender wage gap may always be with us at least at the big end of town.
The Pro-Growth Impact of Deregulation
12 Sep 2026 Leave a comment
in applied price theory, economic growth, economic history, economics of regulation, entrepreneurship, macroeconomics Tags: European Union

Regulation adds “clutter” to an economy, sort of akin to creating an obstacle course that workers and businesses have to navigate in order to be productive. In other words, red tape makes it harder to be profitable. And that reduces incentives to invest. And every economic theory agrees that less investment means less prosperity. That’s […]
The Pro-Growth Impact of Deregulation
Bruce D. Smith refutes the quantity theory
12 Sep 2026 Leave a comment
in applied price theory, budget deficits, economic history, history of economic thought, macroeconomics, Milton Friedman, monetarism, monetary economics Tags: quantity theory of money






Poll: Almost 60 Percent of Democrats Have a Favorable View of Socialism
11 Sep 2026 Leave a comment
in economic history, history of economic thought, liberalism, Marxist economics, politics - USA

Recent polls show steady growth in support for socialism among Democrats. A new CBS poll shows how popular it is,…
Poll: Almost 60 Percent of Democrats Have a Favorable View of Socialism
Did the Sewing Machine Reduce the Workload for Women?
10 Sep 2026 Leave a comment
in discrimination, economic growth, economic history, economics of education, gender, history of economic thought, human capital, industrial organisation, labour economics, labour supply, macroeconomics, occupational choice, poverty and inequality, technological progress Tags: creative destruction, The Great Enrichment
Is new technology that replaces a worker a good thing? We have a tendency, it seems to me, to believe that most previous inventions turned out to have overall net social benefits, but to be worried that all future inventions will instead have overall net social costs. Philipp Ager and Davide Coluccia tackle the question of…
Did the Sewing Machine Reduce the Workload for Women?
Some Comments on the Significance of Labor Unions for Economic Policy – Items – Collected Works of Milton Friedman
08 Sep 2026 Leave a comment
in applied price theory, economic history, history of economic thought, industrial organisation, labour supply, Milton Friedman, survivor principle, unions
“To Write Well is to Think Clearly”: David McCullough
08 Sep 2026 Leave a comment
in economic history, economics of education, politics - USA
The great historian David McCullough (1933-2022) won the Pulitzer prize for biography twice, for his books on Truman and John Adams, but he also wrote best-selling books on the Panama Canal, the Johnstown Flood, the Brooklyn Bridge, the Wright brothers, and others. Here are his comments in a 2002 interview with Bruce Cole on the…
“To Write Well is to Think Clearly”: David McCullough
IN THE ARENA: THEODORE ROOSEVELT IN WAR, PEACE AND REVOLUTION by David S. Brown
07 Sep 2026 Leave a comment
in defence economics, economic history, politics - USA

(Theodore Roosevelt at his Sagamore Hill home). There are numerous memorable biographies of Theodore Roosevelt. The best include the three volume work of Edmund Morris, Henry Pringle’s Pulitzer prize winning effort, David McCullogh’s National Book Award MORNING ON HORSEBACK, and Kathleen Dalton, H.W. Brands, and Nathan Miller’s critical works, among others. There are also a […]
IN THE ARENA: THEODORE ROOSEVELT IN WAR, PEACE AND REVOLUTION by David S. Brown
Why is the BBC Misrepresenting Jewish History?
05 Sep 2026 1 Comment
in defence economics, economic history, International law, laws of war, war and peace Tags: age of empires, Israel, West Bank
One of the BBC’s duties, alongside accurate and impartial news content, is to educate. The first public purpose item in the BBC’s Royal Charter… The post Why is the BBC Misrepresenting Jewish History? appeared first on CAMERA UK.
Why is the BBC Misrepresenting Jewish History?
Why Pakistani Politicians End Up in Jail
04 Sep 2026 1 Comment
in development economics, economic history, economics of crime, growth disasters, law and economics Tags: Pakistan
Pakistan has a remarkable political history. Prime ministers and presidents do not merely lose elections or retire from public life. They have repeatedly been arrested, imprisoned, disqualified from office, forced into exile or, in the most extreme case, executed. The temptation is to conclude that Pakistani politicians must simply be unusually corrupt. Corruption is certainly […]
Why Pakistani Politicians End Up in Jail
After US Defeat: Vietnam and Afghanistan
04 Sep 2026 Leave a comment
in defence economics, development economics, economic history, growth disasters, growth miracles, industrial organisation, Marxist economics, war and peace Tags: Afghanistan, Vietnam
The American defeats in Vietnam and Afghanistan are often compared as military and foreign-policy failures. But there is another comparison that matters at least as much: what happened to the people left behind after the Americans departed? If we put aside the destruction caused during the wars themselves and concentrate on their aftermaths, an important difference […]
After US Defeat: Vietnam and Afghanistan

Recent Comments