Free Enterprise in Three Minutes Podcast with Ray Keating

Episode #31: What People Earn, Part I: Productivity

March 26, 2019 Ray Keating Season 1 Episode 31
Free Enterprise in Three Minutes Podcast with Ray Keating
Episode #31: What People Earn, Part I: Productivity
Show Notes

Ray Keating talks about what people earn. Politicians often ignore economics and wind up pandering for a higher minimum wage mandate or a government-imposed living wage. But in the competitive, private marketplace, the bottom line is that earnings, or incomes, are determined by productivity, that is, output per worker.