Loading Inventory...

Why Wages Don't Fall during a Recession by Truman F. Bewley, Paperback | Indigo Chapters

From Truman F. Bewley

Current price: $63.00
Why Wages Don't Fall during a Recession by Truman F. Bewley, Paperback | Indigo Chapters
Why Wages Don't Fall during a Recession by Truman F. Bewley, Paperback | Indigo Chapters

From Truman F. Bewley

Why Wages Don't Fall during a Recession by Truman F. Bewley, Paperback | Indigo Chapters

Current price: $63.00
Loading Inventory...

Size: 1 x 1 x 0.8125

Visit retailer's website
*Product information may vary - to confirm product availability, pricing, shipping and return information please contact Coles
A deep question in economics is why wages and salaries don't fall during recessions. This is not true of other prices, which adjust relatively quickly to reflect changes in demand and supply. Although economists have posited many theories to account for wage rigidity, none is satisfactory. Eschewing "top-down" theorizing, Truman Bewley explored the puzzle by interviewing—during the recession of the early 1990s—over three hundred business executives and labor leaders as well as professional recruiters and advisors to the unemployed. By taking this approach, gaining the confidence of his interlocutors and asking them detailed questions in a nonstructured way, he was able to uncover empirically the circumstances that give rise to wage rigidity. He found that the executives were averse to cutting wages of either current employees or new hires, even during the economic downturn when demand for their products fell sharply. They believed that cutting wages would hurt morale, which they felt was critical in gaining the cooperation of their employees and in convincing them to internalize the managers' objectives for the company. Bewley's findings contradict most theories of wage rigidity and provide fascinating insights into the problems businesses face that prevent labor markets from clearing. | Why Wages Don't Fall during a Recession by Truman F. Bewley, Paperback | Indigo Chapters

More About Coles at Bayshore Shopping Centre

Coles is renowned for its outstanding customer service and great selection of books. Along with the vast array of magazines, stationary, audio-books, children's literature, fiction, non-fiction and reference books, you can find accessories to make your reading experience more pleasurable. We can recommend the very best in reading today. We will help you search our titles for exactly what you need, and if we do not have it in stock, we will order it for you.

100 Bayshore Dr, Nepean, ON K2B 8C1, Canada

Powered by Adeptmind