Re-post: Does the market pay you what you’re worth? (with Marshall Steinbaum and Saru Jayaraman)


Manage episode 285670549 series 2468847
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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 studies market power in labor markets and its policy implications.

Twitter: @Econ_Marshall

Saru Jayaraman is President of One Fair Wage and Director of the Food Labor Research Center at UC Berkeley.

Twitter: @SaruJayaraman

No, Productivity Does Not Explain Income:

ROC United Diners’ Guide App:

Saru Jayaraman: How Restaurant Workers Are Inheriting a Legacy of Slavery in the U.S.:

Evidence and Analysis of Monopsony Power, Including But Not Limited To, In Labor Markets:

Antitrust and Labor Market Power:

Why Are Economists Giving Piketty the Cold Shoulder?

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Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer