From https://wol.iza.org/uploads/articles/494/pdfs/sexual-orientation-and-labor-market-outcomes.pdf
Why is the lesbian pay gap so positively large in the USA?
24 Feb 2020 Leave a comment
in discrimination, economics of education, gender, human capital, job search and matching, labour economics, labour supply, occupational choice
Criticism of the Efficiency-Wage Theory
24 Feb 2020 Leave a comment
Efficiency wages only works in the USA.
In all other countries there are significant protections against wrongful dismissal so it’s hard to get another job. In the USA, where firing is at will, it’s easy to risk taking on a problematic employee because they are easy to get rid off, the threat of dismissal is less severe because it’s easier to get another job. It’s not necessary to pay the wage premium because if you’re fired it’s hard to get another job so just chance of being caught shirking is strong penalty than in countries where it’s easy to get another job after being fired
The “Efficiency Wage” is a New Keynesian theory aimed to highlight a so-called market failure. Gregory Mankiw describes the theory as follows :
There are various theories about how wages affect worker productivity. One efficiency-wage theory holds that high wages reduce labor turnover. Workers quit jobs for many reasons—to accept better positions at other firms, to change careers, or to move to other parts of the country. The more a firm pays its workers, the greater their incentive to stay with the firm. By paying a high wage, a firm reduces the frequency of quits, thereby decreasing the time spent hiring and training new workers.
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Beth A. Fischer. The Reagan Reversal: Foreign Policy and the End of the Cold War. 1997
24 Feb 2020 Leave a comment
in defence economics, politics - USA, war and peace
Hayek to @AOC @BernieSanders @Greens @NZGreens @oxfamnz @Greenpeace
24 Feb 2020 Leave a comment
in applied price theory, Austrian economics, comparative institutional analysis, constitutional political economy, economics of bureaucracy, F.A. Hayek, income redistribution, industrial organisation, labour economics, law and economics, Public Choice, public economics, rentseeking Tags: The fatal conceit
Yet another shortcoming @Greens @NZGreens @jamespeshaw @mfe_news @JulieAnneGenter
24 Feb 2020 Leave a comment
in energy economics, environmental economics, global warming, politics - Australia, transport economics Tags: electric cars
Are the ties the worst?
24 Feb 2020 Leave a comment
in economic history, economics of media and culture
@JordanBPeterson On The Impact Of the Radical Left
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in discrimination, economics of education, gender, labour economics Tags: gender wage gap, political correctness, regressive left
Crazier than @jeremycorbyn! Opposes arming police against gunmen shooting people
24 Feb 2020 Leave a comment
in economics of crime, law and economics, politics - New Zealand, politics - USA Tags: law and order, police shootings, rational irrationality, virtue signaling
More on anti-science @Greens @GreenpeaceAP #globalwarming #climateemergency #FakeNews
24 Feb 2020 Leave a comment
in economics of natural disasters, energy economics, environmental economics, global warming, politics - Australia Tags: climate alarmists, pessimism bias, rational irrationality, regressive left
Fred S. McChesney: Public vs. Private Enterprise
24 Feb 2020 Leave a comment
in applied price theory, economics of bureaucracy, economics of information, industrial organisation, law and economics, managerial economics, organisational economics, privatisation, property rights, Public Choice, survivor principle, theory of the firm
Bad news for #globalwarming @Greens #climateemergency #FakeNews
24 Feb 2020 Leave a comment
in economics of education, economics of information, economics of natural disasters, energy economics, environmental economics, global warming, politics - Australia Tags: climate alarmists, expressive voting, pessimism bias, rational irrationality, regressive left
The Myth of the Rational Voter: Why Democracies Choose Bad Policies – Annual Casey-McIlvane Lecture
24 Feb 2020 1 Comment
in comparative institutional analysis, constitutional political economy, economics of bureaucracy, economics of education, economics of information, economics of regulation, environmental economics, financial economics, industrial organisation, international economics, James Buchanan, labour economics, law and economics, macroeconomics, Marxist economics, politics - USA, Public Choice, public economics, rentseeking Tags: rational ignorance, rational irrationality
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