Labor and Wages

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Ferghane Azihari
If working is the price we pay to obtain things we want, then economic progress means decreasing this price thanks to continued productivity growth.
Robert Fellner
Wages spring directly from, and are proportional to, the degree in which a job creates wealth by helping to satisfy an unmet need.
Randall G. Holcombe

Three months ago, the CEO of Gravity Payments, a Seattle credit card processing firm, announced that all of the firm’s employees would be paid a minimum of $70,000 a year. Now, the firm has fallen on hard times.