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The market is not some magic fairy, it is a result of how we all interact. Employers have gone around hiring men for more money than women, perhaps because thos
by nhaehnle 16y ago
The market is not some magic fairy, it is a result of how we all interact. Employers have gone around hiring men for more money than women, perhaps because those men have been able to trick them into thinking they were better than the competing women - a lot of decision-making is about perception, after all.
Many facts of life are only questioned rarely. People complaining about gender inequality will cause some of those facts of life to be questioned and that can trigger the kind of reaction that you outline to correct this type of arbitrage.
Bottom line is: The market is not magical. It takes precisely this kind of discussions for participants in the market to become aware of the kind of opportunities that can make markets produce better outcomes.