The Gender Wage Gap, by State
The Supply Curve of Viking Raids
We have blogged and written extensively about the gender pay gap, much of which is not attributable to discrimination, as is commonly invoked. President Obama has taken up the cause; he recently signed two executive orders aimed at closing the gap. Business Insider recently posted a state-by-state breakdown of the gender wage gap. It is interesting to look at but keep in mind the non-discriminatory factors that contribute to the gap, and therefore consider these numbers with some skepticism:
Wyoming has the biggest pay gap — the median male full-time worker made $51,932, and the median female full-time worker made $33,152. The male worker thus made 56.6% more than the female worker.
Washington, D.C. had the smallest gap — there, men make 11.0% more than women. Among the states, Maryland and Nevada had the smallest gaps, both at 17.2%. http://bit.ly/1jIoFmm WorldConsultingGroup.com
Perakis and Zhang win 2014 Jamieson Teaching Awards
The new exhibition on the Vikings at the British Museum illustrates behavior along supply curves. The local Anglo-Saxons decided that the best way to keep Viking raiders at bay was to buy them off—to pay tribute. Perhaps unsurprisingly, this extra payoff merely induced a movement up the supply curve of Viking raids, as more raiding parties realized that there was money to be made by raiding English villages. Perhaps this is a lesson for modernity: don’t negotiate with terrorists!
Twenty-one teams advance in MIT Clean Energy Prize competition
Faculty members recognized for innovation and excellence in teaching. http://bit.ly/1ghJ9BJ #Management WorldConsultingGroup.com
Several MIT Sloan students among semifinalist teams. http://bit.ly/1ghC3NQ #Management WorldConsultingGroup.com