This paper will employ a method (devised in Lazear [1976] ) to estimate the unobserved component of wages. The size of this component will be calculated for non-whites and whites separately and then compared. Since, as it turns out, the component is larger for whites than non-whites, observed...

During the past decade, much has been said about the role that on-the-job training plays in augmenting one's stock of human capital. Up to this point, little has been done to distinguish the effect of on-the-job training from that of aging on the increase in human wealth. The reason rests...

The returns to talent or performance have grown over time in developed countries. Is talent concentrated in a few firms or are firms virtual microcosms of the economy, each having close to identical distributions of talent?The data show that talent is not concentrated in a few companies, but is...

During the past decade, much has been said about the role that on-the-job training plays in augmenting one's stock of human capital. Up to this point, little has been done to distinguish the effect of on-the-job training from that of aging on the increase in human wealth. The reason rests...

This paper will employ a method (devised in Lazear [1976] ) to estimate the unobserved component of wages. The size of this component will be calculated for non-whites and whites separately and then compared. Since, as it turns out, the component is larger for whites than non-whites, observed...

The returns to talent or performance have grown over time in developed countries. Is talent concentrated in a few firms or are firms virtual microcosms of the economy, each having close to identical distributions of talent?