There are two competing economic theories for what determines wage levels in the marketplace. The classic model is based on long run lasting effects from the expansion and contraction of the economic cycle which in turn drive wage rates; essentially tying wages to supply and demand for labor over time. The alternative model, which has been gaining support since the 1990s, is that wage levels are driven by what economists call "contemporaneous conditions". Economists generally agree that the present condition of the economy is the primary factor in determining wage levels.
(WageWatch) Read the complete article
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How Hospitals Can Kill Us
Imagine an institution where the occupants are routinely left immobile, deprived of sleep and fed a diet that is tasteless and nutritionally marginal. Imagine further that they experience the indignity of losing any semblance of privacy and get stuck multiple times a day with needles.
(Forbes) Read the complete article
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Top Stories: Human Resources
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