Title
Why Wages Don'T Fall During A Recession
Delivery time: 8-12 business days (International)
A Deep Question In Economics Is Why Wages And Salaries Don'T Fall During Recessions. This Is Not True Of Other Prices, Which Adjust Relatively Quickly To Reflect Changes In Demand And Supply. Although Economists Have Posited Many Theories To Account For Wage Rigidity, None Is Satisfactory. Eschewing Topdown Theorizing, Truman Bewley Explored The Puzzle By Interviewingduring The Recession Of The Early 1990Sover Three Hundred Business Executives And Labor Leaders As Well As Professional Recruiters And Advisors To The Unemployed. By Taking This Approach, Gaining The Confidence Of His Interlocutors And Asking Them Detailed Questions In A Nonstructured Way, He Was Able To Uncover Empirically The Circumstances That Give Rise To Wage Rigidity. He Found That The Executives Were Averse To Cutting Wages Of Either Current Employees Or New Hires, Even During The Economic Downturn When Demand For Their Products Fell Sharply. They Believed That Cutting Wages Would Hurt Morale, Which They Felt Was Critical In Gaining The Cooperation Of Their Employees And In Convincing Them To Internalize The Managers' Objectives For The Company. Bewley'S Findings Contradict Most Theories Of Wage Rigidity And Provide Fascinating Insights Into The Problems Businesses Face That Prevent Labor Markets From Clearing.
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For more information, please visit www.P65Warnings.ca.gov.
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Shipping & Returns
Shipping
We ship your order within 2–3 business days for USA deliveries and 5–8 business days for international shipments. Once your package has been dispatched from our warehouse, you'll receive an email confirmation with a tracking number, allowing you to track the status of your delivery.
Returns
To facilitate a smooth return process, a Return Authorization (RA) Number is required for all returns. Returns without a valid RA number will be declined and may incur additional fees. You can request an RA number within 15 days of the original delivery date. For more details, please refer to our Return & Refund Policy page.
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This warranty strictly does not cover damages that arose from negligence, misuse, wear and tear, or not in accordance with product instructions (dropping the product, etc.).
Warranty
We provide a 2-year limited warranty, from the date of purchase for all our products.
If you believe you have received a defective product, or are experiencing any problems with your product, please contact us.
This warranty strictly does not cover damages that arose from negligence, misuse, wear and tear, or not in accordance with product instructions (dropping the product, etc.).
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Secure Payment
Your payment information is processed securely. We do not store credit card details nor have access to your credit card information.
We accept payments with :
Visa, MasterCard, American Express, Paypal, Shopify Payments, Shop Pay and more.