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Alternatives to Paying Efficiency Wages: Why No PEOPLEFAX?
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Journal Article
Alternatives to Paying Efficiency Wages: Why No PEOPLEFAX?
2020
Overview
Efficiency wage theories of unemployment predict that employers will pay employees above market-clearing wages to deter shirking by workers. However, paying supernormal wages may not be the only solution to this problem. When the Montgolfier Paper Mill encountered shirking and laborers who 'left their employ[ers] when they tried to discipline them\" (Horn, p. 37) in the 1780s, they instead made reforms, the most significant of which was the certificat de conge, a \"record of [each employee's] previous employment and conduct\" (Rosenband 1993, p. 233) maintained by the employer. Under this system, the Montgolfiers could pay normal market wages and still cause their workers to incur penalties for shirking. Legislative barriers in several modern jurisdictions prevent employers from giving detailed feedback on past employees to potential employers.
Publisher
Association of Private Enterprise Education
Subject
