3 ms·
That is again another argument than the original one under discussion. Of course prices converge to an equilibrium in a perfectly efficient market. But wages ar
by roel_v 7y ago
That is again another argument than the original one under discussion. Of course prices converge to an equilibrium in a perfectly efficient market. But wages are sticky, and labor is a lemon market the the employer's pov. Amd those are just two reasons for why people cannot walk into a comp negotiation and negotiate based on value produced. (not to mention that no prospective employee would ever even know that value, but I've left that out of the discussion all along)