Mankiw Economics Chap_19 中山大学吴柏林教授“曼昆·经济学原理”绝密资料.pptVIP

* 15 * 16 * 16 * 16 * * * * * Summary Workers earn different wages for many reasons. To some extent, wage differentials compensate workers for job attributes. Workers with more human capital get paid more than workers with less human capital. 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. Summary The unexplained variation in earnings is largely attributable to natural ability, effort, and chance. Some economists argue that more-educated workers earn higher wages because workers with high natural ability use education as a way to signal their high ability to employers. Summary Wages are sometimes pushed above the equilibrium level because of minimum-wage 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. Summary Competitive markets tend to limit the impact of discrimination on wages. Discrimination can persist in competitive markets if customers are willing to pay more to discriminatory firms, or if the government passes laws requiring firms to discriminate. * * 2 * 3 * 3 * 4 * 5 * 6 * 6 * * * 7 * 8 * 9 * * * * * 11 * 11 * 11 * 11 * 11 * 14 * 14 * 13 * 15 * 15 Earnings and Discrimination Chapter 19 Copyright ? 2001 by Harcourt, Inc.All rights reserved.?? Requests for permission to make copies of any part of thework should be mailed to: Permissions Department, Harcourt College Publishers,6277 Sea Harbor Drive, Orlando, Florida 32887-6777. Differences in Earnings in the U.S. Today The typical physician earns about $200,000 a year. The typical police officer earns about $50,000 a year. The typical farm worker earns about $20,000 a year. What causes earnings to vary so much? Wages are governed by labor supply and