When Alan Greenspan (who would later become chairman of the Federal Reserve) ran an economic consulting firm in the 1960s, he pr
imarily hired female economists. He once told the New York Times, "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?
Yes, it is since primarily (1960) hired female economists who were paid less than male economists despite of his belief ( valued men and women equally ); good women economists were cheaper than men. It is despicable.
