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>Stanley’s wages would be the equivalent of $17.17 today — more than the “Fight For 15” movement is demanding for fast-food workers. Stanley’s job was more diff
by Rylinks 13y ago
>Stanley’s wages would be the equivalent of $17.17 today — more than the “Fight For 15” movement is demanding for fast-food workers. Stanley’s job was more difficult, more dangerous and more unpleasant than working the fryer at KFC (the blast furnace could heat up to 2,000 degrees). According to the laws of the free market, though, none of that is supposed to matter.
What "laws of the free market" are those?
- VikingCoder 13y agoSupply and demand. If there are an over-abundant supply of workers, then wages should tend to lower over time.
- deleted 13y ago[deleted]
- dredmorbius 13y agoI'll post in more length later, but Smith's Wealth includes a detailed passage on what determines wages.
- kansface 13y agoEmployee wages are governed by supply and demand in a free market- ie, outside of government interference, unions, etc. |According to the laws of the free market, though, none of that is supposed to matter. I'm surprised this statement made it through editing. There is a lower supply of workers for dangerous jobs hence they are paid better (see any number of dangerous jobs).
- smnrchrds 13y agoI guess supply and demand.