That's an entirely different argument. On the whole, the wage gap is a myth[0]. If there's a particular situation where someone is willing to do the same work for less pay, then the university should absolutely hire them.

They should hire all women, and become the most cost-effective university. The same goes for businesses. Imagine an increase in profits of around 10-20%. An all-women company would be staggeringly profitable.

That doesn't happen. Because? The wage gap is a myth.

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[0] Example, http://www.wsj.com/articles/the-wage-gap-myth-that-wont-die-...