Embracing competition and how it can increase your salary
Fri 31 March 2023
Professor David Cabrelli, Professor of Labour Law, recently wrote an article for The Institute of Art and Ideas exploring the wage stagnation that has been prevalent in western societies over the last 40 years.
There have been numerous causes blamed for this stagnation such as, globalisation, innovation and an aging population. Professor Cabrelli argues that more competition may have to be added to our job hunts in order to boost wages.
The piece titled ‘Competition is good for your salary’ delves into the causes of wage stagnation and explores the concept of monopsony.