Youre Paid What Youre Worth: And Other Myths of the Modern Economy
English
By (author): Jake Rosenfeld
This is the book to throw at your human resources directornot literally, of coursewhen any attempt is being made to bamboozle you about how decisions on pay have been madeIt is a closely argued, thoroughly researched treatise on how we got here and how pay could be both fairer and more effective as a reward.
Stefan Stern, Financial World
A flat-out revelation of a book by one of the nations top scholars of the labor marketrequired reading for anyone who cares about the future of work in America.
Matthew Desmond, author of Poverty, by America
Jake Rosenfeld pulls back the curtain on the multifaceted cultural, institutional, and market forces at play in wage-setting. This timely book illuminates the power dynamics and often arbitrary forces that have contributed to the egregious inequality in the U.S. labor marketand then lays out a clear blueprint for progressive change.
Thea Lee, President of the Economic Policy Institute
Job performance and where you work play a role in determining pay, but judgments of productivity and value are highly subjective. What makes a lawyer more valuable than a teacher? How do you measure the output of a police officer, a professor, or a reporter? Why, in the past few decades, did CEOs suddenly become hundreds of times more valuable than their employees? The answers lie not in objective criteria but in battles over interests and ideals.
Four dynamics are paramount: power, inertia, mimicry, and demands for equity. Power struggles legitimize pay for particular jobs, and organizational inertia makes that pay seem natural. Mimicry encourages employers to do what their peers are doing. And workers are on the lookout for practices that seem unfair. Jake Rosenfeld shows us how these dynamics play out in real-world settings, drawing on cutting-edge economics and original survey data, with an eye for compelling stories and revealing details.
Youre Paid What Youre Worth gets to the heart of that most basic of social questions: Who gets what and why?