Steve Piraino

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Mises Daily Steve Piraino
Why shouldn’t the worker who is willing to render the best services for the least pay be the one who gets the job? Instinctively, most of us recoil in disgust at the suggestion that wages should reflect nothing more than the cold calculus of supply and demand. Yet few of us realize just how essential this “cold calculus” is for the long-run welfare of laborers themselves.