What’s the right wage?
Debunking Economics - the podcast
00:00
Is There a Crackpot Theory?
Richard McGaughy has written a book called, Unequal Cities. How cities are basically self-funded in the United States. And doesn't that create distortionary impacts like you're talking about there? Quickly before we go today, maybe it's a bit of a crackpot theory. Another conventional economics crackpot theory is the efficiency wage theory. Is there any sound basis to that?
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