Free Republic

What economists call an ability to make "compensating differences" is a valuable tool in everyone's arsenal. If people are prohibited from doing so, they are always worse off. You say, "Williams, I never heard of compensating differences. What are they?" Jimmy Soul's 1963 hit song, "If You Wanna Be Happy," explained the concept of compensating differences. His lyrics went: "If you want to be happy for the rest of your life, never make a pretty woman your wife. So from my personal point of view, get an ugly girl to marry you." His point was that an ugly woman would...

Women, lamented Hillary Clinton in an April 2014 tweet, make just 77 cents on the dollar to men. As a presidential candidate she has repeated that lament again and again, updating the numbers, in line with government statistics, to 78 cents in July 2015 and 79 cents this year. This injustice, she says, must be remedied by government. "Last time I checked," Clinton told an event sponsored by a salary site called Glassdoor, "there's no discount for being a woman. Groceries don't cost us less, rent doesn't cost us less, so why should we be paid less?" There is, as...

"President Obama Vows Zero Tolerance on Gender Wage Gap," read one headline. Another read, "Women Still Earned 77 Cents On Men's Dollar In 2012." It's presumed that big, greedy corporations are responsible for what is seen as wage injustice. Before discussing the "unjust" wage differences between men and women, let's acknowledge an even greater injustice -- which no one seems to care about -- age injustice. According to the Bureau of Labor Statistics, workers ages 16 to 24 earn only 54 cents on every dollar earned by workers 25 or older (http://tinyurl.com/n6puf6j). This wage gap is 43 percent greater than...