Truman F. Bewley

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Why Wages Don't Fall During a Recession

Truman F. Bewley

Synopsis:
Although economists have posited many theories to account for wage rigidity, none is satisfactory. Eschewing 'top-down' theorizing, Truman Bewley explored the puzzle by interviewing over 300 business executives, labor leaders, and recruiters/advisors to the unemployed during the recession of the early '90s. He discovered that executives were reluctant to cut wages for fear of hurting morale, which they believed was critical in gaining the cooperation of their employees.

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Other editions: Hardcover - 2007, Softcover - 2002, 1987, Hardcover - 1987, 1987