Wednesday, October 27, 2010

How many economists does it take to eliminate discrimination against women?

None--the market will do it. If an employer discriminates against women, a rival can hire women, and make the same goods at lower cost. This is happening in South Korea where US firms are hiring over qualified, and under employed Korean women:

Jordan Siegel of Harvard Business School reports that foreign multinationals are recruiting large numbers of educated Korean women...., lifting the proportion of a firm’s managers who are female by ten percentage points raises its return on assets by one percentage point...

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