3 ms·
Yes, but I can't find the name for it right now. It is also the reason companies have people work overtime even though it costs +50% more because it is still c
by mrep 8y ago
Yes, but I can't find the name for it right now. It is also the reason companies have people work overtime even though it costs +50% more because it is still cheaper than hiring more workers.
Most introductory economics textbooks go over it.
- mrep 8y agoIf you are still reading this thread and have not read any economic textbooks, I HIGHLY recommend you start reading some economic textbooks. It is my favorite subject, I read dozens of textbooks on my own after I read my first introductory one, and I am a software engineer who majored in computer science. I think it is highly useful in learning the "science" behind how businesses operate and I definitely think it is useful to learn regardless of what industry you work in since all businesses are subject to the "science" of business in capitalism. I quote "science" because you cannot really test economic theory but it is as close as you can get and it brings a lot of insights into businesses when you learn it.
- graeme 8y agoI actually majored in econ :) It was extremely useful in fact. But I don't recall hearing this wage theory, possibly because it deals with a semi-irrational aspect of wages. Econ historically wasn't good at irrational things. (Using irrational in the strictly literal, econ sense) We did talk about wage stickiness, and this is related.