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【正文】 ethnic group, sex, age, or other personal characteristics. Harcourt, Inc. items and derived items copyright 169。 2020 by Harcourt, Inc. THE ECONOMICS OF DISCRIMINATION ? Although discrimination is an emotionally charged topic, economists try to study the topic objectively in order to separate myth from reality. Harcourt, Inc. items and derived items copyright 169。 2020 by Harcourt, Inc. Measuring LaborMarket Discrimination ? Discrimination is often measured by looking at the average wages of different groups. Harcourt, Inc. items and derived items copyright 169。 2020 by Harcourt, Inc. Measuring LaborMarket Discrimination ? Even in a labor market free of discrimination, different people have different wages. Harcourt, Inc. items and derived items copyright 169。 2020 by Harcourt, Inc. Measuring LaborMarket Discrimination ? People differ in the amount of human capital they have and in the kinds of work they are willing and able to do. Harcourt, Inc. items and derived items copyright 169。 2020 by Harcourt, Inc. Measuring LaborMarket Discrimination ? Simply observing differences in wages among broad groups— white and black, men and women— says little about the prevalence of discrimination. Harcourt, Inc. items and derived items copyright 169。 2020 by Harcourt, Inc. Table 2 Median Annual Earnings by Race and Sex Copyright169。2020 SouthWestern Harcourt, Inc. items and derived items copyright 169。 2020 by Harcourt, Inc. Measuring LaborMarket Discrimination ? Because the differences in average wages among groups in part reflect differences in human capital and job characteristics, they do not by themselves say anything about how much discrimination there is in the labor market. Harcourt, Inc. items and derived items copyright 169。 2020 by Harcourt, Inc. Discrimination by Employers ? Firms that do not discriminate will have lower labor costs when they hire the employees discriminated against. Harcourt, Inc. items and derived items copyright 169。 2020 by Harcourt, Inc. Discrimination by Employers ? Nondiscriminatory firms will tend to replace firms that discriminate. Harcourt, Inc. items and derived items copyright 169。 2020 by Harcourt, Inc. Discrimination by Employers ? Competitive markets tend to limit the impact of discrimination on wages. ? Firms that do not discriminate will be more profitable than those firms that do discriminate. Harcourt, Inc. items and derived items copyright 169。 2020 by Harcourt, Inc. Discrimination by Customers and Governments ? Although the profit motive is a strong force acting to eliminate discriminatory wage differentials, there are limits to its corrective abilities. ?Customer preferences ?Government policies Harcourt, Inc. items and derived items copyright 169。 2020 by Harcourt, Inc. Discrimination by Customers and Governments ? Customer preferences: ?If customers have discriminatory preferences, a petitive market is consistent with a discriminatory wage differential. ?This will happen when customers are willing to pay to maintain the discriminatory practice. Harcourt, Inc. items and derived items copyright 169。 2020 by Harcourt, Inc. Discrimination by Customers and Governments ? Government policies: ?When the government mandates discriminatory practices or requires firms to discriminate, this may also lead to discriminatory wage differentials. Harcourt, Inc. items and derived items copyright 169。 2020 by Harcourt, Inc. Summary ? Workers earn different wages for many reasons. ? To some extent, wage differentials pensate workers for job attributes. ? Workers with more human capital get paid more than workers with less human capital. Harcourt, Inc. items and derived items copyright 169。 2020 by Harcourt, Inc. Summary ? The return to accumulating human capital is high and has increased over the past decade. ? There is much variation in earnings that cannot be explained by things economists can measure. Harcourt, Inc. items and derived items copyright 169。 2020 by Harcourt, Inc. Summary ? The unexplained variation in earnings is largely attributable to natural ability, effort, and chance. ? Some economists have suggested that moreeducated workers earn higher wages because workers with high natural ability use education as a way to signal their high ability to employers. Harcourt, Inc. items and derived items copyright 169。 2020 by Harcourt, Inc. Summary ? Wages are sometimes pushed above the equilibrium level because of minimumwage laws, unions, and efficiency wages. ? Some differences in earnings are attributable to discrimination on the basis of race, sex, or other factors. ? When measuring the amount of discrimination, one must correct for differences in human capital and job characteristics. Harcourt, Inc. items and derived items copyright 169。 2020 by Harcourt, Inc. Summary ? Competitive markets tend to limit the impact of discrimination on wages. ? Discrimination can persist in petitive markets if customers are ?willing to pay more to discriminatory firms, ?or if the government passes laws requiring firms to discriminate.