Podcast
Questions and Answers
What does the theory of marginal product of labor suggest?
What does the theory of marginal product of labor suggest?
Every worker is paid exactly what they're worth based on the value their labor generates.
How do employers often use the concept of marginal productivity?
How do employers often use the concept of marginal productivity?
To justify paying the lowest wages possible.
Who are Marshall Steinbaum and Saru Jayaraman, and what do they aim to do in relation to the theory of marginal productivity?
Who are Marshall Steinbaum and Saru Jayaraman, and what do they aim to do in relation to the theory of marginal productivity?
Marshall Steinbaum is an economist at the University of Utah, and Saru Jayaraman is a food labor expert. They aim to expose the exploitation of workers through the lie of marginal productivity.
What is the main argument against the theory of marginal product of labor?
What is the main argument against the theory of marginal product of labor?
Signup and view all the answers
What is the title of Saru Jayaraman's most recent book?
What is the title of Saru Jayaraman's most recent book?
Signup and view all the answers
According to Nick in the text, what determines how much workers are paid?
According to Nick in the text, what determines how much workers are paid?
Signup and view all the answers
What does the theory of marginal product state about how workers are paid?
What does the theory of marginal product state about how workers are paid?
Signup and view all the answers
What is the main argument against the principle of marginal productivity in the text?
What is the main argument against the principle of marginal productivity in the text?
Signup and view all the answers
What example does David provide to challenge the principle of marginal productivity?
What example does David provide to challenge the principle of marginal productivity?
Signup and view all the answers
According to Nick, why is the principle of marginal productivity considered a lie in the text?
According to Nick, why is the principle of marginal productivity considered a lie in the text?
Signup and view all the answers
