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Re-post: Does the market pay you what you’re worth? (with Marshall Steinbaum and Saru Jayaraman)
The theory of marginal product of labor says that every worker is paid exactly what they’re worth—the value that their labor generates. Employers cite marginal productivity to legitimize paying the lowest wages possible, but that’s just another trickle-down scam. Economist Marshall Steinbaum and food labor expert Saru Jayaraman expose the lie of marginal productivity, and show how it’s been used to exploit workers for centuries.
Marshall Steinbaum is an Assistant Professor of Economics at the University of Utah and a Senior Fellow of Higher Education Finance at the Jain Family Institute. He…
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