Cato Daily Podcast
The Wage Gap and The War on Prices
May 16, 2024
Vanessa Brown Calder discusses the gender pay gap, debunking myths and exploring factors like occupation and behavioral traits. Studies show a reduction in the wage gap when controlling for variables like driving speed and risk tolerance. Workplace discrimination is not the primary cause of the gap. A UK study on remote workers challenges stereotypes. Policy interventions should consider individual choices and preferences.
14:15
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Quick takeaways
- The wage gap between men and women shrinks to less than 5% when factors like occupation and industry are considered.
- Remote work choices post-family contribute significantly to the gender pay gap, raising concerns about long-term pay differentials.
Deep dives
Factors Influencing the Gender Pay Gap
Research reveals that the average woman makes 83 cents for every $1 earned by a man. Upon closer examination, after accounting for factors like occupation and industry, the pay gap significantly shrinks from 21% to less than 5%. Studies, such as the one on Uber drivers, show that controlling for various factors like risk tolerance and working hours can eliminate the pay gap entirely, indicating that it is not solely based on gender discrimination.
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