Dave Richardson's always valuable report showed: Women already account for more than 55 percent of both the bachelor's and master's degrees awarded by U.S. colleges, and they are rapidly closing the gender gap among newly minted PhDs. The National Opinion Research Center at the University of Chicago reports that females received 41.8 percent of the doctorates granted in the 1998 academic year, up from 40.6 percent in 1997 (Business Week, March 27, page 30). Does this mean that if current trends continue women's earnings will exceed men's since everybody knows that wages are determined solely by human capital? -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]