Wages, Unequal Pay, and Movie Pricing
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In regards to the below explanation, why are wages decreasing and employment increasing in Great Britain? Please provide your opinion.
The simplest explanation is that supply is increasing: as supply increases output increases real prices fall and output increases.
The Financial Times shows the data and puts forward several explanations: (1) welfare reforms are pushing people off the dole and into the labor force; (2) older workers are choosing to retire at a later age. Both explanations would imply an increase in supply.
In regards to the below explanation, is Unequal pay for women: rational choice or discrimination? Please provide your opinion.
...women disproportionately choose careers based on factors other than income and they have unique challenges when they do seek careers that are more lucrative.
In regards to the below explanation, will the Internet Undermine Movie Pricing? Please provide your opinion.
Movie pricing has been a classic example of price discrimination. Get the most money from those willing to go to theaters. Get a little less later from DVD sales. Drop the price a bit more from viewing it on HBO. Finally, get what you can from "free TV" advertising.
So where does Internet delivery fit into the mix? There will be piracy, but this does not appear to be as big a problem as with music. This Morning Edition story claims that Internet delivery combined with HDTV is beginning to upset the whole deal.
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Solution Summary
This solution provides a discussion on several economics questions regarding wages, unequal pay and movie pricing.
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In regards to the below explanation, why are wages decreasing and employment increasing in Great Britain? Please provide your opinion.
The simplest explanation is that supply is increasing: as supply increases output increases real prices fall and output increases.
The Financial Times shows the data and puts forward several explanations: (1) welfare reforms are pushing people off the dole and into the labor force; (2) older workers are choosing to retire at a later age. Both explanations would imply an increase in supply.
Given the changes in the welfare systems, wherein the amount of welfare received will decrease after a certain period and then eventually stops when a period is reached, provide very powerful motivators for people on the dole to rejoin the labor force and actually look for ...
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