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Revision as of 03:52, 19 August 2014
I need to charge up my phone http://pattonandcooke.com/?page=60 ordering clomid These papers â all but the last co-authored by Akerlof â address what's known in the economics literature as "efficiency wage theory." That's the idea that paying workers more than the market wage boosts productivity and ends up being worth it for the employer. The famous example is Henry Ford's decision to pay workers enough to afford a Model T for themselves. However, efficiency wages can also result in involuntary unemployment, since they move wages away from the market equilibrium.