Heresy from the University of Chicago

02/26/2020
02/26/2020 CHRC

Heresy from the University of Chicago

The Economist claims that in a recent lecture, an esteemed economist at The University of Chicago asserted that “the decision to participate in a market is not simply about maximizing utility given a set of tastes and constraints.”

Underpinning much of what is taught and believed about economics at U of C is that all people are rational actors. But like Adam Smith, who understood that the invisible hand of efficient markets would only work within a system of moral actors, Marianne Bertrand’s research has uncovered that the labor market for women isn’t efficient within a system of societal biases.

To understand more about what Bertrand’s data reveals about the contributors to gender gaps in the labor markets Read More Here