4 ms·
Agreed, you are describing the ceiling (high end) of the wage scale. The issue is the floor (i.e. the bottom) of the wages. Employers will try to keep wages l
by ninju 5y ago
Agreed, you are describing the ceiling (high end) of the wage scale.
The issue is the floor (i.e. the bottom) of the wages. Employers will try to keep wages lower even when productivity improves
- BurningFrog 5y agoYes. That assumption is baked into all standard economic models. As is the fact that workers will try to keep wages as high as possible.