Wednesday, April 9, 2014
How to make a little more money!
How about a bit of economics today.
The point of running a business is to make a profit. Do we agree that this is just basic economics? The business folks I know are not in business to go bankrupt by doing things like charging less for their product than it takes to produce it.
Now most (all?) business folks need resources and they must attempt to procure those resources at the least cost and I have been taught in economics that labor is a resource that has a cost.
If we agree with this premise then can you answer the following question?
Why don't all businesses, being in business for a profit, hire only women to do whatever job needs to be done? I mean I see the complaint in the media that women are paid less than men (some say $0.77 on the dollar) so it would make economic sense to hire the women for less (anywhere from 15% to 23% less than men) and get rid of those high paid men.
Man, if I had a business I would have an all woman staff if I could save almost 23% per head on each of my worker.....
What am I missing here?