When alan greenspan (who would later become chairman of the federal reserve) ran an economic consulting firm in the 1960s, he primarily hired female economists. he once told the , "i always valued men and women equally, and i found that because others did not, good women economists were cheaper than men." is greenspan's behavior profit-maximizing? is it admirable or despicable? if more employers were like greenspan, what would happen to the wage differential between men and women? why might other economic consulting firms at the time not have followed greenspan's business strategy? the public health service studied the effects of smoking on health, in a large sample of representative households. 19 for men and for women in each age group, those who had never smoked were on average somewhat healthier than the current smokers, but the current smokers were on average much healthier than those who had recently stopped smoking.
(a) why did they study men and women and the different age groups separately?
(b) the lesson seems to be that you shouldn't start smoking, but once you've started, don't stop. comment briefly.