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It doesn't and it is generally acknowledged that working conditions are a part of the pay that gets factored in when you do supply and demand. But the example f
by tomjen3 3y ago
It doesn't and it is generally acknowledged that working conditions are a part of the pay that gets factored in when you do supply and demand. But the example from Ford where he did nothing to improve the working conditions, but made 5 usd/day the standard is also famous for a reason: double the pay and you get the kind of people who care primarily about money.
- Gibbon1 3y agoYes and economist's also think the risk to the workers physical health and safety is part of the pay that gets factored in and the government should mind it's own beeswax too. That's generally part of economists reflex to look the other way when the free market creates a race to the bottom. Just pretend that workers have a choice between working at a coal mine that exposes them coal dust for higher pay or one that doesn't. Same as pharmacists have to choice between working for companies that put them at risk for burnout, PTSD and panic attacks for more money and ones that don't.