A Quote by Robert H. Frank
We've long known that firms can pay higher wages if they spend less on workplace safety enhancement. Libertarians ask, "If a worker is willing to accept higher wages in return for his agreement to exercise greater caution while performing his job, why should the government prevent him from making that choice?" It's a rhetorically powerful question, yet it overlooks the fact that the agreement in question will have adverse effects on others.
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Requiring the payment of higher wages will lead to a loss of some jobs and a raising of prices which drives companies to search for automation to reduce costs. On the other hand, those receiving higher wages will spend more (the marginal propensity to consume is close to 1 for low income earners) and this will increase demand for additional goods and services. Henry Ford had the clearest vision of why companies can actually benefit by paying higher wages.
Higher productivity enables companies to increase sales without adding workers. Even if job markets tighten and wages rise, corporate profits can continue to climb as long as worker productivity is growing faster than overall wages.
If a market exists for low-paid work, then we should think about how we can make this type of work more attractive by providing government assistance. Of course, the wage-earner must be able to live off of his wages. We will not allow poverty wages or dumping wages. But the wage earner can receive a combined wage that includes both his actual wages and a government subsidy.
We have a raising wages agenda. And that includes tax policy, trade policy. TPP is a very bad agreement. Covers 40 percent of the world's economy, and it will cost us jobs. It's not well-drafted. It's an agreement, an investment agreement that will benefit Wall Street a lot, but not working people.
Exporting firms are more productive and pay higher wages than their domestically focused counterparts, especially in places like Sub-Saharan Africa. If firms manage to thrive in world markets, they tend to increase their productivity even more.
Our mission has been the protection of the wage-worker, now; to increase his wages; to cut hours off the long workday, which was killing him; to improve the safety and the sanitary conditions of the workshop; to free him from the tyrannies, petty or otherwise, which served to make his existence a slavery.
Do not make the mistake...of thinking that a worker is a slave and that he holds his job by his employer's permission. He does not hold it by permission - but by contract, that is, by a voluntary mutual agreement. A worker can quit his job; a slave cannot.
The law of work does seem utterly unfair-but there it is, and nothing can change it: the higher the pay in enjoyment the worker gets out of it, the higher shall be his pay in cash, too.
Why should you row a boat race? Why endure the long months of pain in preparation for a fierce half hour that will leave you all but dead? Does anyone ask the question? Is there anyone who would not go through all the costs, and more, for the moment when anguish breaks into triumph or even for the glory of having nobly lost? Is life less than a boat race? If a man will give the blood in his body to win the one, will he spend all the might of his soul to prevail in the other?
While I'd been in school, I had a nagging thought that it'd be so much easier to quit all this higher education nonsense and get a full-time job at wages low enough to still qualify for government assistance.
I have come to doubt whether the FDA rules should apply to cannabis. There is no question about its safety. It is one of humanity's oldest medicines, used for thousands of years by millions of people with very little evidence of significant toxic effects. More is known about its adverse effects than about those of most prescription drugs.
In the end, we should not forget that playing football is our job. So people should accept that wages will always play a role in a player's decision-making.
As long as I sit at Henry Clay's desk, I will remember his lifelong desire to forge agreement, but I will also keep close to my heart the principled stand of his cousin, Cassius Clay, who refused to forsake the life of any human, simply to find agreement.
A gardener who cultivates his own garden with his own hands, unites in his own person the three different characters, of landlord, farmer, and labourer. His produce, therefore, should pay him the rent of the first, the profit of the second, and the wages of the third.
If you are a woman, you might feel torn between logical agreement and emotional resistance. Why? It seems like a simpler solution to blame men for the pay gap than to engineer your own bridge to higher pay.
I am in favor of high wages and agree that the higher the wages, the stronger the evidence of prosperity, provided (and that is the important point) they are so naturally, by the effectiveness of industry, and not in consequence of an inflated currency or any artificial regulation.
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