Financial motives drive labor decisions from "summary" of Labor in the Age of Finance by Sanford M. Jacoby
Labor decisions are often driven by financial considerations, reflecting the broader influence of finance on employment relationships in the modern economy. Workers must weigh the potential financial gains against the associated costs and risks when making decisions about their labor participation. This calculus is shaped by various factors, including wages, benefits, job security, and opportunities for advancement. Employers, on the other hand, are motivated by financial considerations in their labor decisions as well. They seek to maximize profits, minimize costs, and optimize efficiency in order to remain competitive in the market. This often leads them to prioritize financial outcomes over other considerations, such as worker well-being or job satisfaction. As a result, labor decisions are often driven by the ...
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