Discuss the following statement in relationship to (a) The tournament theory of executive pay (b) The World

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Discuss the following statement in relationship to

(a) The tournament theory of executive pay

(b) The “World of Work” 7.2 on faculty tenure: “The new economics of personnel rationalizes whatever exists. If a compensation structure prevails, so goes this view, it must be efficient. The policy implication therefore is to ‘let it be’ (laissez faire). Thus what poses as economic analysis is actually political conservatism.”

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Contemporary Labor Economics

ISBN: 978-1259290602

11th Edition

Authors: Campbell R. McConnell, Stanley L. Brue, David Macpherson

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