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You could just as easily use your own argument to say that the inclusion of women in a variety of professions demonstrates the validity of "econ 101 in a vacuum
by woodman 11y ago
You could just as easily use your own argument to say that the inclusion of women in a variety of professions demonstrates the validity of "econ 101 in a vacuum". This is a different issue though, less to do with market efficiency than social pressure.
- foldr 11y agoWe don't have lots of women doctors now because it suddenly became more profitable to hire them in the past couple of decades. Market forces aren't going to magically make hiring practices less discriminatory. We need to make an actual effort.
- wpietri 11y agoYou could only use my argument that way if you had some justification for what happened in 1970, and why the market failed to sort things out for millennia. My claim is that what happened was "vocal proponents [...] with a strong smell of moral superiority" made it happen in basically the same way that women finally got the vote. That is to say, market efficiency is a relatively weak and gradual force, not something that proves that all current social structures are perfectly optimal.