In this lecture I first give an explanation for invidious preferences based on the (evolutionary) competition for resources. Then I show that these preferences have wide ranging and empirically relevant effects on labor markets, such as: workplace skill segregation, gradual promotions, wage...

Since the early 1980s, the U.S. economy has experienced a growing wage differential: high-skilled workers have claimed an increasing share of available income, while low-skilled workers have seen an absolute decline in real wages. How and why this disparity has arisen is a matter of ongoing...

Cover -- Contents -- Preface -- 1 Introduction -- 2 Descriptive Evidence on Minimum Wage Effects -- 3 A Model of Minimum Wage Effects on Labor Market Careers -- 4 Labor Market and Welfare Impacts of Minimum Wages -- 5 Minimum Wage Effects on Labor Market Outcomes -- 6 Assessing the Welfare...