If every other store in town is paying workers $9 an hour,...

If every other store in town is paying workers $9 an hour, one offering $8 will find it hard to hire anyone - perhaps not when unemployment is high, but certainly in normal times. Robust competition is a powerful force helping to ensure that workers are paid what they contribute to their employers' bottom lines.

Christina Romer Quote About Anyone, Bottom, Certainly, Competition, Contribute: If Every Other Store In...

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