Comment by prmph

Comment by prmph a day ago

> the tendency for wages in jobs that have experienced little or no increase in labor productivity to rise in response to rising wages in other jobs that did experience high productivity growth

Since when has wages been based on productivity?

maxerickson a day ago

Productivity has always imposed an upper limit on wages.

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lumost a day ago

It’s more complex than that. When universities want to give raises to admin, they simply raise prices. The ability of the university to raise prices depends on many factors.

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- maxerickson a day ago
  
  Those wages are far below the upper limit imposed by the value of college education...
  That it's possibly signaling rather than something more concrete doesn't really matter to the economic analysis.
  
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