00:01
Some part of income inequality is likely to be the result of discrimination, but other factors responsible for inequality include differences in abilities and talents, differences in education and training, different preferences for work versus leisure, and or different preferences for low -paying but safe jobs relative to high -paying but dangerous jobs.
00:25
The correct answer is all of them.
00:30
Differences in abilities and talents this can lead to income distribution and how it is how it plays out depending on a person's talent they might be super good at math and science and they might go the track of becoming a high paying doctor where somebody who is maybe more artistic might decide to be an artist but maybe they don't make a lot of money as an artist differences in education and training.
00:58
If we're, say, a lawyer who has a lot of education and as a corporate lawyer, we have more education and training than somebody who is, say, a waitress and they're likely to make more money.
01:10
Different preferences for work versus leisure.
01:13
Some people are less worried about how much money they make.
01:17
And as long as they can support themselves and be happy with like the life they have, their concern is to have more leisure time...