Economic Enigmas Project

Why do women get paid less money than men in the U.S., and other developed countries, for doing the same job? Introduction: Inequality in pay is an enigma because there is no measurable difference between men and women and their ability to perform work duties. Principle of Economic Thinking: Economic Systems Influence Individual Choices & Incentives According to Jillian Berman of the Huffington Post, “ Women make up two-thirds of low wage workers, but just 14.6% of the top earning positions at Fortune 500 companies, according to Catalyst, a research organization aimed at boosting women at work.” This means that the Mixed Market Economy is set up to allow sexism to interfere with women’s earning power. Principle Of Economic Thinking: All Choices Involve Cost “Even when women have and make "the choice" to do everything exactly the same as men they, still come out behind. Controlling for things like educational attainment, number of hours worked and occupation, women make about 5 percent less than their male colleagues, according to a 2011 analysis by the St. Louis Federal Reserve.” (AAUW, 2014),. From an economic perspective, even when women make solid choices, the “system” is flawed against them. Principle of Economic Thinking: The Consequences of Choice Lie in the Future “The pay gap grows with age. Women typically earn about 90 percent of what men are paid until they hit 35. After that median earnings for women are typically 75–80 percent of what men are paid. Data shows that women’s future earnings actually decline over time, compared to their male counterparts.” (AAUW, 2014). Conclusion: Despite certain claims that the gender pay gap. has been exaggerated over the years, it still exists in many countries around the world. In a recent speech, President Obama said, “…to sum up: Women make less than men. That’s wrong, and in 2014, it's an embarrassment.” (Berman, 2014)

Sources Cited AAUW. Research: The Truth About the Gender Pay Gap. American Association of University Women. N.p., n.d. Web. 6 Mar Scholarly Project Another day, another $.77. Digital image. Google Images. N.p., n.d. Web. 6 Mar Berman, Jillian. "It's a Fact That Women Get Paid Less Than Men. Stop Debating." Web log post. Huffington Post. N.p., 5 Feb Web. 6 Mar Blog / Podcast Equal pay for equal work. Digital image. Google Images. N.p., n.d. Web. 06 Mar Like men, only cheaper. Digital image. Google Images. N.p., n.d. Web. 6 Mar That explains the pay difference. Digital image. Google Images. N.p., n.d. Web. 6 Mar Name Class # Date