Who decides how much we earn?
The simplest way of thinking about salaries is that supply and demand sets your wage. In reality, there’s a lot more involved – power dynamics, available information, and local politics are just a few factors that determine who gets what.
What does ‘human capital’ mean?
Human capital is a way of describing the value of our skills, talent, and manpower to the economy. ‘Capital’ is usually used to describe some kind of investment that can be used to make money – the term ‘human capital’ sees people as, basically, just that.
Why do we have a ‘pay gap’ and what it is?
The ‘pay gap’ is a term most commonly used to describe the differences in pay between men and women. But it’s not all about gender – we also use ‘pay gap’ when we are talking about differences between other social groups, such as the race, sexuality and ethnicity.