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'Commies and other wacko leftists often like to claim that real wages are falling in the United States, and that this fall is due to "free markets."' How I love a polemic argument! So, the BLS data that Dr. Perry has plotted I believe to come from the following report, and other similar...
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Hey folks: As a teacher in a public high school, I have an interest in justifying my salary. I tend to think it is higher than a free market would allow, but I wonder if the very low private school teacher salary is a realistic indicator of a free market situation, or if the real going rate would would...
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http://laborcenter.berkeley.edu/retail/walmart_downward_push07.pdf Empirical evidence suggests that employees at Wal-Mart earn lower average wages and receive less generous benefits than workers employed by many other large retailers. But controversy has persisted on the question of Wal-Mart’s...
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When trying to understand the causes of the Great Depression, the most important thing to understand, in my opinion, would be the high unemployment at the time. So, the best explanation I saw, coherent to economic theory, is that at the time, Hoover had stablished a "High Wage Policy", that...
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I came across a couple of articles in the New York Times and other sources that showed a disconection between raises in productivity and wages. e.g.: In THIS article they argue that wages and productivity correlation are based on union's pressure and has nothing to do with markets. Austrian theory...
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I've read in a few places that wages are affected by inflation and deflation later than other prices, but I can't find any books or articles that explain why this is so or that offer evidence to show that it is so. Can anyone please help me find something? Thanks.
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I have read some works by Milton Friedman, Ludwig Von Mises, Adam Smith, and Ayn Rand; and they all seem to be correct! What are the primary philosophical differences between these individuals, especially Milton Friedman and Ludwig Von Mises. Furthermore, what distinguishes that Austrian School from...
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I am new to economics. I’m still in college for electrical engineering. I read the daily articles religiously. And anything else I can get my hands on. Any recommendation would be appreciated. Is it possible for inflation to be good for the economy? I think that what would naturally come with the...
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[quote user="Stranger"]The workers can walk away from their jobs at any time if their wages are unsatisfactory. They can do this because they have no capital invested in the enterprise tying them to it.[/quote] I was talking about workers not getting the agreed payment at all. They may have...