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How is arguing that "free" is too low any different than arguing "X" dollars is too low and should be more? If the marginal product of the interns labor is more
by PKop 15y ago
How is arguing that "free" is too low any different than arguing "X" dollars is too low and should be more? If the marginal product of the interns labor is more than what is offered, then competing companies will bid up the wage rate until it equals the MPL. How is this a special case that is immune to the effects of supply/demand?
- eli_gottlieb 15y agoUnfortunately, that "law" has failed to play out in real life. Also, why is the company hiring if the net benefit to them from the intern's labor is nothing? http://img25.imageshack.us/img25/114/31740564320cb174fabflz1.jpg http://img25.imageshack.us/img25/114/31740564320cb174fabflz1... http://newsimg.bbc.co.uk/media/images/42041000/gif/_42041256_wages_prod_416gr.gif http://newsimg.bbc.co.uk/media/images/42041000/gif/_42041256... http://www.realitysandwich.com/fantasy_finance http://www.realitysandwich.com/fantasy_finance http://www.frbsf.org/publications/economics/letter/2004/el2004-18.html http://www.frbsf.org/publications/economics/letter/2004/el20...