Celebrating humanity's flourishing through the spread of capitalism and the rule of law
09 May 2015 Leave a comment
in business cycles, economic growth, economics of education, human capital, job search and matching, labour economics, labour supply, macroeconomics, occupational choice, unemployment Tags: labour demographics, prosperity and depression
#StayinSchool
April jobless rate for people 25+ with
B.A. or more: 2.7%
No h.s. diploma: 8.6%
on.wsj.com/1H63SHl http://t.co/UwzHjiaQz9—
Sudeep Reddy (@Reddy) May 08, 2015
April jobless rate by race/ethnicity:
Black 9.6%
Hispanic: 6.9%
White 4.7%
Asian 4.4%
on.wsj.com/1H619hg http://t.co/qgRWa7MB85—
Sudeep Reddy (@Reddy) May 08, 2015
06 May 2015 Leave a comment
in discrimination, gender, labour economics, labour supply, occupational choice Tags: gender wage gap, part-time employment, reversing gender gap
Gender & #jobs: pretty clear who's working only part-time. Follow @OECDlive & #gender tomorrow bit.ly/1BCpQOH http://t.co/arzboo6udl—
(@OECD) March 03, 2015
05 May 2015 Leave a comment
in economics of love and marriage, gender, labour economics, labour supply, occupational choice Tags: female labour supply, gender wage gap, household division of labour, maternal labour supply
04 May 2015 Leave a comment
in economics of media and culture, labour economics, law and economics, occupational choice, property rights Tags: employment law
04 May 2015 Leave a comment
in applied welfare economics, discrimination, economics of education, gender, human capital, labour economics, labour supply, occupational choice Tags: gender wage gap, reversing gender gap
Why have women outpaced men? There’s little cognitive difference between the sexes, and males do better on standardized tests.
But Murphy, Becker, and Hubbard argue that women tend to have better “non-cognitive skills” than men do. Those personal skills and character traits such as persistence, self-control, and conscientiousness may help women excel academically and stay in school until they graduate.
The academic achievement gap actually starts before college: 25 percent more females than males took high-school advanced-placement tests in 2010, the Cleveland Fed economists find.
“There is a substantial gap between the measured high school performance of males and females,” Topel and Murphy write in a 2014 study, noting that female graduating high school seniors have, as a group, higher grade point averages than their male counterparts. “This high school gender gap in academic performance persists in the population that continues on to college.”
via Women are winning the human capital race | The University of Chicago Booth School of Business.
02 May 2015 Leave a comment
in business cycles, economics of education, great recession, human capital, labour economics, macroeconomics, occupational choice, politics - USA, unemployment Tags: College premium, education premium, labour demographics
Our monthly update on the question: should I stay in school? blogs.wsj.com/economics/2015… http://t.co/IaVxoAJmqe—
Josh Zumbrun (@JoshZumbrun) April 03, 2015
02 May 2015 Leave a comment
in discrimination, economics of education, economics of love and marriage, gender, human capital, labour economics, labour supply, law and economics, occupational choice Tags: assortative mating
#Dailychart: Sex and money: How women's equality increases wealth inequality. econ.st/1kCYG1R http://t.co/dfrYJs4vBs—
The Economist (@ECONdailycharts) February 13, 2014
01 May 2015 Leave a comment
in applied price theory, Austrian economics, F.A. Hayek, labour supply, occupational choice, Public Choice, rentseeking Tags: consultants, rent seeking, The pretence to knowledge
The life of an economist. http://t.co/gvBLa9Tk3h—
Justin Wolfers (@JustinWolfers) March 02, 2015
30 Apr 2015 Leave a comment
in discrimination, gender, labour economics, occupational choice Tags: gender analysis, gender wage gap, media bias, reversing gender gap, wage stagnation
30 Apr 2015 Leave a comment
in labour economics, labour supply, occupational choice, politics - USA Tags: conscription, peace movements, Richard Nixon, Vietnam war
The Vietnam anti-war movement were primarily the result of the draft: hell no, we won’t go and the burning of draft cards. Richard Nixon was as cunning a rat who ever occupied the Oval Office. He was elected in 1968 to end the Vietnam war and to end the draft.
Nixon had an intuitive economic understanding that the anti-war movement’s rioting in the streets and campuses was very much motivated by private gain. In particular, the threat of being drafted. The notion that revolutions and political movements are motivated by private gain is not new.
Vietnamisation changed everything. In 1969, Nixon started the process of phasing down the sending of further combat troops to Vietnam and the phasing down of the draft. US troop withdrawal started on July 1st 1969 with completion dates – December 1970, June 1971 and December 1972.
By the beginning of 1972, over 400,000 U.S. military personnel had been withdrawn, virtually all combat troops. The protests were against ending up in the jungle – not up the rear with the gear. There were 24,000 US troops in Vietnam in 1972. This compares to 560,000+ in 1969.
A Vietnam vet told me that when he returned to his U.S. campus in 1971 for graduate studies, it was very quite compared to 1969 because the spectre of the draft had gone in their minds.
The anti-war movement was really motivated by hell no, we won’t go. As soon as the prospect of going to Vietnam faded away, so did the anti-war movement.
29 Apr 2015 1 Comment
in entrepreneurship, labour economics, labour supply, occupational choice Tags: creative destruction, entrepreneurial alertness, innovation, skill biased technical change, technological unemployment
28 Apr 2015 Leave a comment
in labour economics, labour supply, occupational choice, poverty and inequality, welfare reform Tags: 1996 US welfare reforms, female labour supply, labour demographics, welfare state
The share of single mothers without a high school degree with earnings rose from 49 percent to 64 percent between 1995 and 2000 but has since fallen or remained constant almost every year since then. At 55 percent, it’s now just slightly above its level in 1997, the first full year of welfare reform (see first graph).
TANF now serves only 25 of every 100 families with children that live below the poverty line, down from AFDC’s 68 of every 100 such families before the welfare law
Over the last 18 years, the national TANF average monthly caseload has fallen by almost two-thirds — from 4.7 million families in 1996 to 1.7 million families in 2013 — even as poverty and deep poverty have worsened.
The number of families with children in poverty hit a low of 5.2 million in 2000, but has since increased to more than 7 million. Similarly, the number of families with children in deep poverty (with incomes below half of the poverty line) hit a low of about 2 million in 2000, but is now above 3 million.
The employment situation for never-married mothers with a high school or less education — the group of mothers most affected by welfare reform — has changed dramatically over the last several decades.
In the early 1990’s, when states first made major changes to their cash welfare programs, only about half of these mothers worked.
Importantly, there was a very large employment gap between the share of these never-married mothers and single women without children with similar levels of education, suggesting that there was substantial room for these never-married mothers to increase their participation in the labour force.
By 2000, the employment gap between these two groups of women closed, and it has remained so. But in the years since, the employment rate for both groups has fallen considerably.
The employment rate for never-married mothers is now about the same as when welfare reform was enacted 18 years ago. This suggests that the economy and low education levels are now the causes of limited employment among never-married mothers — not the availability of public benefits or anything particular to never-married mothers.
The Centre on Budget and Policy Priorities, who hail clearly from the Left of American politics, scrupulously documented the following:
Welfare dependency down by two thirds, employment of never married mothers up to levels no one thought possible, family poverty down, and economic independence is much more widespread and all because of the 1996 US Federal welfare reforms. That sounds like success to me – a great success.
via Chart Book: TANF at 18 | Center on Budget and Policy Priorities.
27 Apr 2015 Leave a comment
in cats, health and safety, labour economics, occupational choice Tags: daredevils
A lion riding in the sidecar of a go-kart at a wall of death, Massachusetts, c. 1929. http://t.co/Dlo7XcdhNC—
ClassicPics (@History_Pics) April 27, 2015
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