2 ms·
Another way to say this is that the normally-presumed cause/effect relationship is actually backwards here. I.e. If you aggregate the outputs of industry over a
by thetrumanshow 11y ago
Another way to say this is that the normally-presumed cause/effect relationship is actually backwards here. I.e. If you aggregate the outputs of industry over a long enough period, higher wages cause higher productivity and not visa versa.
This is a fun thought-experiment.
- theseatoms 11y agoA related concept: https://en.wikipedia.org/wiki/Efficiency_wage https://en.wikipedia.org/wiki/Efficiency_wage