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- W3021885131 abstract "This chapter describes the various factors that determine the earning power of an individual. Earnings of paired individuals in the same occupation or with the same amount of education very often differ substantially. The earnings of persons with the same family background also vary widely. All workers are not the same. They differ in several important respects, which influence both the supply of and demand for their services. The demand for employees who are highly productive will be greater than the demand for those who are less productive. Because they are more productive, their services will command a higher wage from employers. Workers can increase their productivity by investment in human capital. Investment in human capital and development of specialized skills can protect high-wage workers from the competition of others willing to offer their services at a lower price. It is important to keep in mind that wages are determined by demand relative to supply. Other things constant, a skilled specialist will command a higher wage than one with less skill, but high skill will not guarantee high wages in the absence of demand. Discrimination on the basis of race or sex contributes to earnings differences among individuals. Employment discrimination may directly limit the earnings opportunities of minorities and women." @default.
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- W3021885131 date "1985-01-01" @default.
- W3021885131 modified "2023-09-24" @default.
- W3021885131 title "EARNINGS, SKILL ACQUISITION, AND THE JOB MARKET" @default.
- W3021885131 doi "https://doi.org/10.1016/b978-0-12-311035-0.50023-x" @default.
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