I’ve never met someone in HR who keeps track of the marginal product of labor. In the real world (like outside of an econ textbook) employee pay has little to do with actual productivity and […]
Exploring the variables that matter most. Exploding the conventional wisdom that rules us.
Category: carrots and sticks
Wonky Geometry: How paying people whether they work or not can increase the wages of the working
Short version (to be elaborated on in future post): UBI (and M4A and affordable housing) raises reservation wage –> shifts labor supply curve —> new (higher) equilibrium wage.
Greatest Common Factors 