People On Third Base Claiming They Hit a Triple, or Marginal Product Theory at Work... Not!
Category: POLITICS
If the last worker hired is being paid an hourly wage less than the value of the firm's output per hour, if would make sense to hire additional workers. The theory isn't completely batty, but it is way too easy to find egregious exceptions.
By Jared Bernstein, ContributorFmr. Obama administration economist; CNBC and MSNBC contributor, 2015-07-03