Central banks can’t raise interest rates so what chance of bankers’ cartel fixing interest rates
15 Nov 2018 Leave a comment
Antitrust economists still worry about a lack of new entry into oligopolistic industry that rarely makes a proft
15 Nov 2018 Leave a comment
in Austrian economics, economics of regulation, industrial organisation, law and economics, politics - USA, survivor principle Tags: competition law, pretence to knowledge
From the good old days
06 Nov 2018 Leave a comment
in economic history, industrial organisation, survivor principle Tags: creative destruction
How Footpaths Help Shape Our Technology – Cheddar Explains
02 Nov 2018 Leave a comment
in economics of media and culture, entrepreneurship, industrial organisation, survivor principle Tags: creative destruction, spontaneous order
John Oliver on Economic Development
29 Oct 2018 Leave a comment
in applied price theory, industrial organisation, Public Choice, public economics, rentseeking, survivor principle Tags: industry policy, picking winners
How Sears Used the Market to Undermine Racism
28 Oct 2018 Leave a comment
in discrimination, economic history, entrepreneurship, industrial organisation, politics - USA, survivor principle Tags: creative destruction, racial discrimination
Joan Robinson was a useful idiot on North Korea too
26 Oct 2018 Leave a comment
in development economics, economic history, growth disasters, growth miracles, history of economic thought, industrial organisation, Marxist economics, Public Choice Tags: fall of communism, North Korea, useful idiots
Steven Pinker Defends James Damore Against Dishonest Slanderer
23 Oct 2018 1 Comment
in discrimination, economics of education, gender, human capital, industrial organisation, labour economics, law and economics, occupational choice, politics - USA, survivor principle Tags: employment law, gender wage gap
Submission to Select Committee on Equal Pay Amendment Bill
21 Oct 2018 Leave a comment
in discrimination, economics of education, gender, human capital, industrial organisation, labour economics, labour supply, occupational choice, politics - New Zealand
This submission is made up of 6 attachments because that is the maximum I could load.
Attachments 1 and 2 are the main part of submission and argue that pay equity is unfair to fair employers. An employer can hire and promote on merit, pay the going wage and still be successfully sued. Their name blackened forever. As a question of social justice, it is wrong to sue someone as a discriminating employer, when there is nothing they could do to right the supposedly wrong they were successfully sued. Barnardo’s can no longer compete with social workers because of the pay equity settlement in the public sector. It relies on donations and tendering for public contracts. It has no capacity to raise wages but could be successfully sued and driven out of business.
Attachments 3 to 5 explains that the gender pay gap is the result of the work-life balance choices of women interacting with some professions penalising an inability to work specific hours or long hours much more than. Pay equity will address none of these issues.
Attachment 6 explains how more than 40 years ago Solomon Polachek found that the gender pay gap was driven by factors such as the number and spacing of children. Employers cannot discriminate against women because they do not know this information and it is now unlawful to ask. It is a strange misogyny that employers hire single women on merit but have a bias against mothers who have several children whose birthdates on widely spaced apart.
To conclude this overview, as attachment 3 shows in a graphic, the gender pay gap for women at the bottom and middle of the labour market is barely 3-5%. It is rather odd to be offering 30% pay rises for a group of women whose pay gap with men at the bottom and middle of the labour market is not more than 5%. Clearly the comparable worth methodology misses something.
Boom: The Future of Supersonic Flight?
17 Oct 2018 Leave a comment
in economic history, entrepreneurship, industrial organisation, survivor principle, transport economics
Sweden: Lessons for America? – Full Video
13 Oct 2018 Leave a comment
in applied price theory, development economics, economic history, economics of bureaucracy, economics of regulation, entrepreneurship, history of economic thought, income redistribution, international economics, labour economics, Public Choice, public economics, rentseeking, survivor principle Tags: Sweden
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