14 Jun 2015
by Jim Rose
in discrimination, economics of education, gender, human capital, labour economics, labour supply, occupational choice, politics - Australia, politics - New Zealand, politics - USA
Tags: Australia, British economy, Canada, College premium, education premium, gender wage gap, Ireland
Figure 1: % population who have attained at least tertiary education, age 25 – 34 by gender (2012)
Source: OECD family database.
Figure 2 shows that the stark reversing of the gender gap in educational attainment shown in figure 1 was somewhat more recent in the US, UK and to a lesser extent in Ireland and Australia. In the UK and USA, educational attainment by gender was pretty equal for the earlier generation of graduates as compared to today’s 25 to 34-year-olds. The reversing of the gender gap in educational attainment dates back several decades in Canada and New Zealand.
Figure 2: % population who have attained at least tertiary education, age 45 – 54 by gender (2012)
Source: OECD family database.
13 Jun 2015
by Jim Rose
in discrimination, gender, human capital, labour economics, labour supply, occupational choice, politics - Australia, politics - New Zealand, politics - USA, poverty and inequality
Tags: asymmetric marriage premium, Australia, British economy, Canada, gender wage gap, Ireland, labour demographics, maternal labour supply
In another blow for the inherent inequality of bargaining power between workers and employers, and for the patriarchy, the wage gap is larger for tertiary educated female full-time workers aged 35-44 than it is for female full-time workers who just finished high school.
Figure 1: gender wage gap for mean full-time, full-year earnings for tertiary educated workers aged 35 – 44, 2012
Source: OECD family database.
To add insult to injury, the gender wage gap further tertiary educated female workers is quite large in the USA but quite small for high school graduates.
Figure 2: gender wage gap for mean full-time, full-year earnings for below upper secondary educated workers aged 35 – 44, 2012
Source: OECD family database.
Canada seems to be a bit of a patriarchal hellhole while New Zealand does pretty well in gender wage gaps.
The gender gap in figure 1 and in figure 2 are unadjusted and calculated as the difference between mean average annual full-time, full-year earnings of men and of women as a percentage of men’s earnings.
13 Jun 2015
by Jim Rose
in applied price theory, applied welfare economics, economic growth, economic history, health and safety, income redistribution, industrial organisation, labour economics, labour supply, macroeconomics, Milton Friedman, occupational choice, politics - Australia, politics - New Zealand, politics - USA, Public Choice, rentseeking, unions
Tags: competition and monopoly, The Great Enrichment, union power, union wage premium
12 Jun 2015
by Jim Rose
in discrimination, gender, human capital, labour economics, labour supply, occupational choice, politics - Australia, politics - New Zealand, politics - USA
Tags: Australia, British economy, Canada, gender wage gap, Ireland
If there is an inherent inequality of bargaining power between workers and employers, as we are so frequently lectured by those in the self appointed know, why is the gender wage gap so small at the bottom of the earnings distribution?
Figure 1: % Gender gap in full-time earnings at the bottom decile of earnings distribution, 2012
Source: OECD family database
Figure 2: % Gender gap in full-time earnings at the median decile of earnings distribution, 2012
Source: OECD family database
Figure 3: % Gender gap in full-time earnings at the top decile of earnings distribution, 2012
Source: OECD family database
The gender gaps are unadjusted, and are calculated as the difference between the earnings of men and women for their respective earnings percentile.
12 Jun 2015
by Jim Rose
in applied price theory, applied welfare economics, politics - Australia, politics - New Zealand, politics - USA
Tags: Leftover Left, Piketty, top 1%
https://www.facebook.com/taxfoundation/photos/pb.19219803864.-2207520000.1434030135./10152970467213865/?type=3&src=https%3A%2F%2Ffbcdn-sphotos-b-a.akamaihd.net%2Fhphotos-ak-xtf1%2Fv%2Ft1.0-9%2F11102783_10152970467213865_6756945966977092418_n.png%3Foh%3Daec8ad59fc08d0e23c3931845ec89bf4%26oe%3D5630EAB6%26__gda__%3D1442243218_3b3fd51768ac8836221e27e048378f8d&size=850%2C645&fbid=10152970467213865
Gross Domestic Income (GDI) is a complete measure of all income earned in the United States. About half is wages, salaries, and benefits. A quarter goes to business-level taxes and the replacement of worn out machinery. Another quarter of gross domestic income is returned to owners of capital, including business owners and private homeowners.
The shares of income returned to workers and owners of capital remain constant over time once benefits, taxes, and depreciation are accounted for – two-thirds of net income goes to labour and one-third goes to capital.
Rather than focus on shares of GDP, a recent preoccupation of the Left over Left, we should focus on shares of labour compensation, that is, wages, salaries and fringe benefits. Both Piketty and his critics agree on that.
via A Walkthrough of Gross Domestic Income | Tax Foundation.
12 Jun 2015
by Jim Rose
in health economics, liberalism, politics - Australia, politics - New Zealand, politics - USA
Tags: anti-vaccination movement, antifluoridation movement, antiscience left, BlackBerry, conjecture and refutation, conspiracy theories, conspiracy theorists, expressive voting, infotopia, rational ignorance, rational irrationality
11 Jun 2015
by Jim Rose
in discrimination, gender, human capital, labour economics, labour supply, occupational choice, politics - Australia, politics - New Zealand, politics - USA
Tags: Australia, British economy, Canada, gender wage gap, Ireland
Figure 1: % gender gap in median earnings of full-time employees, 2012
Source: OECD family database
11 Jun 2015
by Jim Rose
in applied welfare economics, development economics, economic history, growth disasters, growth miracles, politics - Australia, politics - New Zealand, politics - USA
Tags: extreme poverty, global poverty, Left-wing hypocrisy, The Great Enrichment, The Great Escape, The Great Fact
Oxfam and other ODA activists should be dancing in the streets to celebrate the doubling of global median income in the last 10 years.
The only reason for them not doing this as they must have been kidnapped en mass.
We can only hope for their safe release.
11 Jun 2015
by Jim Rose
in discrimination, entrepreneurship, gender, labour economics, labour supply, occupational choice, politics - Australia, politics - New Zealand, politics - USA
Tags: entrepreneurial alertness, maternity leave, paternity leave, Richard Branson
08 Jun 2015
by Jim Rose
in development economics, economics of regulation, environmental economics, growth disasters, growth miracles, health economics, politics - Australia, politics - New Zealand, politics - USA, population economics, technological progress
Tags: agricultural economics, expressive voting, extreme poverty, global hunger, global poverty, GMOs, Left-wing hypocrisy, rational ignorance, rational irrationality, The Great Fact
08 Jun 2015
by Jim Rose
in environmental economics, global warming, politics - Australia, politics - New Zealand, politics - USA, Public Choice
Tags: climate treaties, club goods, free-riders, global warming, green tariffs, international public goods
The best case I’ve seen recently for doing nothing about global warming was put by those arguing with the greatest sincerity and considerable technical skill that the next international climate treaty should be built around a climate club of those that comply with its obligations with green tariffs on those who do not join.
I have long argued that green tariffs are the only reason to do anything about climate change. Much better to collect the revenue ourselves than let it go into the pockets of a foreign taxman.
William Nordhaus has proposed climate clubs as a way of overcoming free riding in international climate negotiations. Specifically, the international climate treaty should authorise members to impose green tariffs on non-members to encourage them to impose their own carbon taxes and carbon emission targets. This has been done before with the Montréal protocol on CFCs. To encourage the phase-out of CFCs countries that did not commit to do so simply could not trade in those goods with members of the club.
via Climate Deal Badly Needs a Big Stick – NYTimes.com.
4%! A 4% global green tariff is all that is necessary under a climate change treaty that proposes that a carbon price of $50 to apply globally! A 4% green tariff is hardly worth worrying about considering tariffs used to be much much higher than that.
Given all the stories of why woe and doom touted out by the climate alarmists, climate salvation and the keys to environmental heaven should cost much more than 4% tax?! Your sins are forgiven for a 4% green tariff! Big problems such as a climate crisis are not solved with a 4% green tariff.
I think this green tariff of 4% is an own goal. It reinforces the clear message from the economics of climate change that global warming is actually a small economic problem not a large one.
For developed countries, global warming will be at most a minor irritant. For developing countries, their best solution and the solution they have most control over is to develop faster and become a developed country.
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