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Accomodating gender equity
Despite rising salaries in hospital medicine, women receive a lower mean annual compensation than men in similar positions (1).
Female hospitalists work more night shifts, are more likely to work in an academic setting, and earn nearly 000 per year less than their male peers (1).
With a highly productive and relatively cheap workforce of women and minorities, a fair-minded company could out-compete a discriminatory company and drive it out of business. Becker theorized that regulation and other government protections can shield discriminatory companies against attack.
That would protect the jobs of the people who worked at those old-line companies, but would perpetuate workplace unfairness in the process.
From One trade-off Becker thought a lot about was workplace discrimination.
Suppose that managers and executives are racist or sexist—for whatever reason, they just don’t want to hire women and minorities, or to pay them what they’re worth (pretty realistic, if you ask me).
Noah Smith looks at how Gary Becker, the Chicago School economist who died last weekend, viewed workplace discrimination.
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Becker argued that the free market was good for gender equality and that deregulation would truly spur women and minority gains in the workplace.
The gender wage gap barely budged between the 1950s and the early '80s, with women making about 60 percent of what men made.
But between 19, women’s earnings rose from this 60 percent to about 74 percent of what men made.
"Japan can no longer afford not to leverage half its population," the "Womenomics 4.0" report stated.
Closing the gender employment gap could boost the country's gross domestic product by 13 percent, according to Goldman Sachs Chief Japan Strategist Kathy Matsui and her team of analysts.