CHART: The Great Recession Had a Disproportionately Negative Effect on Men That Continues Today @CHSommers @AsheSchow http://t.co/wnfdUOUn0a—
Mark J. Perry (@Mark_J_Perry) August 08, 2015
The man-cession illustrated
13 Aug 2015 Leave a comment
in business cycles, discrimination, gender, human capital, job search and matching, labour economics, labour supply, macroeconomics, occupational choice Tags: female labour force participation, male labour force participation, recessions and recoveries
Does fair trade help the poor?
11 Aug 2015 Leave a comment
in applied price theory, applied welfare economics, comparative institutional analysis, development economics, growth disasters, growth miracles, health and safety, human capital, industrial organisation, international economics, labour economics, survivor principle Tags: agricultural economics, expressive voting, fair trade, rational irrationality
Is there a gender gap in the Dunning-Kruger effect?
10 Aug 2015 Leave a comment
in applied price theory, economics of education, economics of media and culture, gender, human capital, labour economics, personnel economics Tags: cognitive psychology, Dunning-Kruger effect, economics of personality traits, reversing gender gap
Great scientists know what they don't know. 1st step to learning. Female economists winning. blogs.lse.ac.uk/impactofsocial… http://t.co/xcfCvMNU3U—
S Dynarski (@dynarski) July 03, 2015
New Zealand unemployment incidence by duration since 1986
10 Aug 2015 Leave a comment
in business cycles, human capital, job search and matching, labour economics, labour supply, macroeconomics, politics - New Zealand, unemployment Tags: equilibrium unemployment rate, hysteresis, long-term unemployment, natural unemployment rate, unemployment duration, unemployment rates
There has been bit of a wild ride in long-term unemployment in New Zealand. Long-term unemployment – longer than one year – ranging from just over 8% of unemployment in 1986 to nearly 40% in 1992 then down to 5% in 2008. Clearly the duration of unemployment in New Zealand is highly sensitive to the business cycle unlike the case in the USA or UK.
Source: OECD StatExtract.
This sensitivity of long-term unemployment to the business cycle does not bode well for the hypothesis of hysteresis where human capital depreciates the longer a jobseeker is out of employment. For this hypothesis to hold, there must be some enduring aspect of long-term unemployment rather than just going up and down with the business cycle rather noticeably.
The rival hypothesis to hysteresis is the long-term unemployed tend to be those who have a lot of trouble getting employment, which is why they end up been unemployed for a long time. Again in New Zealand, these less employable jobseekers appear to be able to find jobs quite easily when the labour market is good.
Hysteresis in practice, Delong-Summers Variety @delong @LHSummers http://t.co/urqxQBi6NE—
Roger E. A. Farmer (@farmerrf) July 23, 2015
The education explosion in the 20th century
06 Aug 2015 Leave a comment
in economic history, economics of education, human capital, labour economics, occupational choice Tags: age of human capital, educational attainment
Dramatic increase in education across all demographic groups over the past 100 years bit.ly/16XYZun http://t.co/0Ew0OxDzlx—
Catherine Mulbrandon (@VisualEcon) August 27, 2013
The discovery process in student athlete wages
04 Aug 2015 Leave a comment
in economics of education, entrepreneurship, human capital, labour economics, labour supply, sports economics Tags: entrepreneurial alertness, on-the-job training, superstar wages, superstars
FiveThirtyEightSports has a great piece about how much college quarterbacks are really worth in terms of market value. I’m neutral-but-leaning-against on the issue of paying college athletes, but the piece begins with University of Iowa Athletic Director Gary Barta giving a very bad reason to oppose it: it’s too complicated to figure out how much they should be paid. He’s right given how he’s conceiving the issue, he’s just not conceiving the issue in the right way.
Wages are not determined by a person or group of people independently evaluating what a job is “really” worth. That’s what markets do, i.e. that’s what innumerable decisions over time by innumerable anonymous consumers operating within the price system do. The failure to understand how the price system works in allocating resources by preferences is not unique to Barta. Very few people understand it, and lamentably even people who do understand it often…
View original post 619 more words
The workplace payoff of Myers Briggs personality types
03 Aug 2015 Leave a comment
in human capital, labour economics, managerial economics, occupational choice, organisational economics, personnel economics Tags: compensating differentials, economics of personality traits, occupational choice
https://twitter.com/businessinsider/status/626968055046926336/photo/1
Human Resources will assign you a personality…. #HRhumour HT @ssmoir_1973 http://t.co/Vz6vs5ODLw—
Gem Reucroft (@HR_Gem) July 30, 2015
The origin of the concept of Human Capital
31 Jul 2015 1 Comment
in history of economic thought, human capital, labour economics, personnel economics Tags: human capital
Human Capital. http://t.co/rSwMFjOcEl—
Gem Reucroft (@HR_Gem) July 17, 2015
In a paper I wrote some years ago I explained the origin of that concept of human capital as follows:
The term ‘human capital’ was initially controversial, but the analytical concept was not. The analysis of human capital has many famous parents and grandparents (Kiker 1966).
Sir William Petty published the first analysis of the value of human capital in 1690. There were sophisticated analyses of investments in education and training and their implications for wage differentials, labour productivity and occupational choice by Adam Smith in 1776, Alfred Marshall in 1890 and Milton Friedman and Simon Kuznets in 1945.
Richard Cantillon, John Locke, John Stuart Mill, Adam Smith and Karl Marx all proposed that training rather than natural ability was more important in understanding occupational wage differentials. Adam Smith and Alfred Marshall referred to education and training as capital investments in human beings.
Irving Fisher in 1912 and Arthur Pigou in 1928 pioneered the explicit use of the term ‘human capital’. Jacob Mincer, Theodore Shultz and Gary Becker popularised the use of the term in the mid-20th century. See Kiker (1966) for a history of the concept of human capital.
New Zealand success in closing the gender wage gap is seriously underreported
31 Jul 2015 Leave a comment
in discrimination, gender, human capital, labour economics, labour supply, politics - New Zealand Tags: gender wage gap, media bias
Graduate premium in starting wages
31 Jul 2015 Leave a comment
in economics of education, human capital, labour economics, labour supply Tags: College premium, graduate premium
If bureaucrats were any good at picking winners, they would be hedge funds managers
30 Jul 2015 Leave a comment
in applied price theory, comparative institutional analysis, economics of bureaucracy, entrepreneurship, financial economics, human capital, industrial organisation, labour economics, managerial economics, occupational choice, organisational economics, rentseeking, survivor principle Tags: active investing, corporate welfare, efficient markets hypothesis, entrepreneurial alertness, hedge funds, industry policy, passive investing, picking winners, The fatal conceit, The pretence to knowledge
Page 32 of "An Illustrated Guide to Income" more economic #dataviz at: bit.ly/12SEI9p http://t.co/HYm0II2UNI—
Catherine Mulbrandon (@VisualEcon) May 08, 2013
Page 33 of "An Illustrated Guide to Income" more economic #dataviz at: bit.ly/10M7lqR http://t.co/FcmaqZWB32—
Catherine Mulbrandon (@VisualEcon) May 09, 2013
The hedge fund industry held $2.9 trillion of assets in June. Exchange-traded funds did better econ.st/1DdXgWS http://t.co/CK2foqMOpw—
The Economist (@EconEconomics) August 01, 2015
Why no ethnic wage gap for New Zealanders aged 15 to 24?
29 Jul 2015 Leave a comment
in discrimination, gender, human capital, labour economics, labour supply, occupational choice, politics - New Zealand Tags: employer discrimination, ethnic wage gap, gender wage gap, racial discrimination, racial wage gap
via New Zealand Income Survey 2014 via Human Rights Commission: Tracking Equality at Work
The occupations of the top 1% and the top 0.1%
29 Jul 2015 Leave a comment
in applied price theory, applied welfare economics, entrepreneurship, financial economics, human capital, labour economics, occupational choice Tags: CEO pay, compensating differentials, entrepreneurial alertness, top 0.1%, top 1%, top income earners, top wage earners
Page 41 from "An Illustrated Guide to Income" more economic #dataviz at: bit.ly/11v2e9k http://t.co/7Hlgk4AjZn—
Catherine Mulbrandon (@VisualEcon) May 22, 2013
Why next to no gender wage gap for under 45s in New Zealand?
28 Jul 2015 Leave a comment
in discrimination, economics of education, gender, human capital, labour economics, labour supply, occupational choice, politics - New Zealand Tags: gender wage gap
Figure 1: unadjusted median pay per hour by gender and age group, New Zealand, 2014
Source: New Zealand Income Survey 2014 via Human Rights Commission: Tracking Equality at Work.
More evidence on the rise and rise of the working super rich – the top income earners are top wage earners now
28 Jul 2015 Leave a comment
in economic history, economics of education, entrepreneurship, financial economics, human capital, labour supply, occupational choice, politics - USA Tags: creative destruction, entrepreneurial alertness, top 1%, top income earners, top wage earners
Page 47 from "An Illustrated Guide to Income" more economic #dataviz at: bit.ly/10QWgyR http://t.co/d1dhSYKWDC—
Catherine Mulbrandon (@VisualEcon) June 03, 2013
Utopia, you are standing in it! 
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