I don't think any teian will give, will give each one the other ladies six dollars. That could be buy the way she drives inand drives a nicer car. She may take a dise dollars an hour. I'm sure she takes a disproportionate share. So they are in a very, very unequal, difficult bargaining position. And in fact, if there was better safety loss, perhaps these ladies would be compensated for doing some of the difficult job. Or if there was, miraculously, a better system in which people could not be taken advantage of that way,. Their wages would be closer, too, to the true value of their marginal product.
Daron Acemoglu, the Elizabeth and James Killian Professor at the Massachusetts Institute of Technology, talks with EconTalk host Russ Roberts about his new paper co-authored with James Robinson, "The Rise and Fall of General Laws of Capitalism," a critique of Thomas Piketty, Karl Marx, and other thinkers who have tried to explain patterns of data as inevitable "laws" without regard to institutions. Acemoglu and Roberts also discuss labor unions, labor markets, and inequality.