Tuesday, April 8, 2014

When economists sell their soul, II

Anyone with half a brain knows that President Obama's claim that the so-called gender wage gap shows the extent of sex discrimination in the workplace is complete bull. Every year this number is trotted out, and every year it has to be redebunked. It is a very tiresome exercise. The claim is so ridiculously stupid and so easily debunked that it probably sets back the cause of eliminating actual workplace discrimination because the discussion centers on the idiocy of the number.

Apparently, even one of the president's personal economists couldn't bring herself to stick to the script. Betsey Stevenson is a member of the president's Council of Economic Advisers and a very accomplished professional economist. Now, any economist who is able to talk about the wage gap as a measure of discrimination is either a ridiculously bad economist or a soulless shill. Stephenson is not the former and she is having a tough time becoming the latter.  

After spouting the nonsense about the gender wage gap at a news conference she was asked a simple question about whether or not is actually shows what she had just claimed it to show. Being a good economist who is having troubling selling her soul, she immediately crumbled from the party line.  She tried to save it, but her brain was not letting her soul be sold for so little.  I can't really give her kudos for this, so I'll just give her a single kudo.

Update: I think I will take back the kudo. Stevenson's performance was just too pathetic and she ended up sticking to her original lie.

Update: Go here for further points about the gender wage gap.