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S E43: Why wages vary - Why some of us get paid more than others

Think Like An Economist

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What Are Some Things We Can Think About?

i want to hear lots of stories about you getting pig pay rises out then le and remember, i'm taking full credit for every pay rise you get. What are some things we can think about over the next few weeks to really get to grips with all this? Well, the first thing we talked about was compensating differentials. Second was the idea that labor demand shapes how much you'll earn - employers demand highly skilled workers. And finally, we talked about n this is both a really important social issue, but it's also an important business issue.

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