Audiobook Sample: Hell to Pay (Nonfiction Politics/Economics)
Description
Vocal Characteristics
Language
EnglishVoice Age
Middle Aged (35-54)Accents
North American (General) North American (US General American - GenAM) North American (US Mid-Atlantic)Transcript
Note: Transcripts are generated using speech recognition software and may contain errors.
The MRP theory of wages continues to be taught by academic economists and treated as orthodoxy by most libertarian ideologues and free market conservatives as well as many center left neoliberals in the United States in a defense of welfare payments that compensate for low wages for workers. James peak of the American Enterprise Institute invokes the theory, economics won't be ignored if workers at a big profitable company only generate $10 an hour of revenue, then the company won't pay them $15 an hour. The MRP theory of wage determination may approximate reality in a few cases, in a fast food restaurant, it might be possible to correlate sales with how many hamburgers particular workers make per hour. But how is it possible to specify the individual contributions to the annual global sales of a multinational corporation like Boeing of an executive secretary, a vice president for marketing and a production engineer. It can't be done. Nevertheless, the bipartisan American economic elite has taken the human capital theory to heart and with good reason from its perspective, the human capital story shifts any responsibility for low wages from employers or government policies. The theory can be invoked as proof that all wages are accurate and objective reflections of worker contribution to profits based on workers skills. It is inevitable that some nursing aides and janitors will be paid poverty wages. So the story goes to interfere with the automatic operations of the allegedly free labor market. For example, by unionizing nursing aids and janitors or raising the federal state or local minimum wages would only backfire. Therefore, if nursing aides or janitors want to improve their wages, they should not even think about collective labor action or political campaigns. Instead, they should focus on upgrading their own personal skills by gaining more vocational or college education and switching to a better paid profession in particular, they should obtain skills in stem science, technology, engineering and math vocations. In other words, they should learn to code.