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Tim Worstall’s Common Sense

Tim Worstall’s point escapes … just about everyone:

Pay isn’t determined by how profitable a company is….if it were then when a company makes losses then all should get pay cuts, yes?

Rather, pay is determined by the alternative employment opportunities, and the wages there, that the workers have.

Of course, many people would regard you as a mean person for pointing this out.

Technorati Tags: tim,worstall,quote,pay,profit

Posted on March 09, 2014 at 01:59 PM in Economics, Quotes | Permalink

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