3 ms·
This has been tried, and actually does work reasonably well. Well, not maximum wages as policy but policies where high productivity workers take a lower wage t
by barchar 1y ago
This has been tried, and actually does work reasonably well.
Well, not maximum wages as policy but policies where high productivity workers take a lower wage than they could individually bargain for in exchange for boosting wages of low productivity workers.
It provides a windfall to the most productive industries and a squeeze to the least productive ones.