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Pastimes : Austrian Economics, a lens on everyday reality

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To: gpowell who wrote (196)4/25/2003 7:53:50 AM
From: Don Lloyd   of 445
 
gpowell,

Wages are only one part of total compensation - so one would have to normalize the data to account for non-wage compensation.

Absolutely, but it is claimed that the data says that premium wages are correlated with higher fringes, not lower. When essentially the same degree of skill and function of labor is paid more by some companies than others, both cash and non-cash compensation increases.

More to follow.

Regards, Don
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