Paying far above the local market wage (e.g., a hundred times the going rate) would not solve the discomfort but would create a giant rent-seeking contest, as workers compete to capture the artificially high wage.

causalpending

Speaker

Russ Roberts

Evidence Quote

there'd be a giant rent-seeking content problem

Source

Mike Munger on Exchange, Exploitation and Euvoluntary Transactions 06/20/2011EconTalk
Created: 6/17/2026, 10:09:19 AM

My Notes

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