I literally did a research project for a firm recently where we lowered wages. Workers are super monitored, I have data on every minute of their day. Post wage

I literally did a research project for a firm recently where we lowered wages. Workers are super monitored, I have data on every minute of their day. Post wage cut, workers worked just as hard. Awesome! 5 months later, the best people are (significantly) gone. 7 months later, and it is demonstrably Obvious that this was a value destroying move--average fixed effects look horrible now, yet this is only clear to those of us watching from the outside. Internally, the difference is completely overlooked. I needed to find cites, and ironically I found the Parent article this morning. This one is way better about the lies we tell ourselves: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3204791 https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3204791