I presume that all employers see all their workers as a means to maximize the returns from their venture. My point is that when there is competition and when workers have decent alternatives, employers treat their workers well as the way to maximize their returns. Another way to say this is that workplaces that are pleasant and that provide opportunities for personal growth are the way they are not because of the generosity of employers but because of the competitive environment the employers find themselves in.

Written by

I host the weekly podcast, EconTalk and I'm the co-creator of the Keynes-Hayek rap videos. My latest book is How Adam Smith Can Change Your Life.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store