Thursday, March 12, 2015
There's A Decent Chance Your Raise Might Beat Inflation This Year
http://www.huffingtonpost.com/2015/03/11/cfo-survey-wages-rising-finally_n_6848312.html DUE 16 MARCH 2015. What is the "normal" rate of acceptable inflation to create growth in the economy? What is the current inflation rate? Why does the author feel that pay raises will beat inflation? How long have wages been down? If it is true that raises exceed inflation, what are the implications for economic growth in the future and WHY??
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There is assign that the slow-moving economic recovery may be showing up in our banks with our raises beating inflation this year. The “normal” rate of acceptable inflation to create growth in the economy is 2%. The current inflation rate is 2%. The author, Emily Peck, feels that pay raises will beat inflation because 70% of U.S. companies plan to raise pay by at least 3% this year. It was a survey conducted in the first months of the year and this survey is an early sign that businesses are finally seeing less “slack” in the labor market. So business owners are finding that in order to attract and hold on to their employees they need to raise their wages.
ReplyDeleteWages have been down since 2010 and the U.S. is finally entering a new phase in the economic recovery. “Given that CFOs expect continued strong employment growth, it is surprising that wage pressures are not greater.” said John Graham, a finance professor at Fuqua and director of the survey. If it is true that raises exceed inflation, then the implications for economic growth in the future will be that Americans will be able to continue spending during inflation which could end inflation quickly without any consequences. It is similar to Cost Of Living Adjustment for retired persons. Sadly, though wages aren't expected to rise across all industries
The normal excitable rate of inflation to stimulate growth in economy is about 2 percent. The current inflation rate happens to be 2% and 70% of american companies are increasing pay buy 3%,1% higher than the inflation rate meaning your rase will actually mean something this year! Wages have bin down ever since the crash in 2008! The increased pay means more disposable income for the masses. More income being spent means more economic growth giving rise to the middle class again. In fact this could end inflation as a hole without any negative affects. Although this is just wishful thinking because not every person in America will be receiving a raise.
ReplyDeleteThe "normal" rate of acceptable inflation to create growth in the economy is two percent. At this percentage rate, around 2 percent per year, the rate roughly matches the inflation rate. The current inflation rate is currently two percent. The author of this article feels that pay raises will eventually beat inflation because many companies, nearly 70% of the companies in these United States of America, are going to raise the pay of their employees by about three percent this year, these companies include the fields such as “consulting, tech, manufacturing and health care” however it does not include companies in the fields of “retail, media and energy.” And these pay raises will have the effect of attracting and holding onto employees. When more people in the middle class have more money, they, the middle class, will have more money to spend which will in turn stimulate the economy thus lowering the inflation rate and solving all of our economic problems as a nation, because the middle class is the backbone of the nation.
ReplyDeleteWages have been down for a long time, man. They have been down since 2010, which was 5 years ago; therefore wages have been down for 5 years. The implications for economic growth in the future is that, if, in fact, wages do exceed inflation, Middle Class Americans would be able to spend money frivolously, which would in turn stimulate the economy, because, as the middle class makes up about 47% of the population and raising their wages would have the biggest impact on the economy of America.
Studies and recent activity a showing indicators that the slow rate of our economic recovery may actually benefit us financially. The regular rate of inflation is 2 percent to stimulate growth, where we are, but 70 percent of American companies are raising their rates 3 percent. This is because companies are believing there is less slack in the labor market, and are therefore raising their rates to encourage workers to come to their businesses and to stay at their company. This raise is focused on companies is consulting, manufacturing, tech and healthcare fields, but not those in energy, retail and media. The single percentage point difference means that those affected may actually get to keep the extra money in their pocket. Wages have been down since about 2008, and it has been struggling to get back up, but the numbers haven't really moved much since 2010. John Graham says that America is “finally entering a new phase in economic recovery.” This is proven by the 1% sitting in the middle classes pockets. With being able to spend more, this is stimulating the economy, promoting further growth. In a best case scenario, this could end inflation very quickly without any consequences.
ReplyDeleteThe “normal” rate of acceptable inflation to create growth in the economy would be about two percent. This is the level where wages have been dwelling ever since the decrease in hourly wages back in 2008. The current inflation rate is around two percent. The author believes that pay raises will beat inflation because about 70% of companies in the U.S. are going to raise employee wages by about 3 percent. Not all industries are going to get the benefit from the increase, as only jobs in “consulting, tech, manufacturing, and health care” will get the increase while jobs relating to “retail, media, and energy” will still see wage growth to be around two percent. With the jobs that are getting the 3 percent pay raise, the companies are more inclined to keep their employees and attract new ones with a bit more money. This in turn would give more money towards the employees, meaning that they can purchase more goods and therefore stimulate the economy and eventually lower the inflation rate. Wages have been down since about the start of 2010, so in total it’s been a little more than five years. For sure the raises do exceed inflation. Knowing this, the wages of most Americans will rise and this would increase the ability to purchase more goods and in turn stimulate the economy.
ReplyDeleteThe normal acceptable rate of inflation to create growth in the United States economy is 2%. At this rate of about 2 percent per year, this growth rate is the same as the inflation rate. The current inflation rate is two percent, which is good. The author of this article feels that because of this, the pay will raise to eventually beat the inflation rate because many companies will pay their employees about three percent this year. These companies include the fields of “consulting, tech, manufacturing and health care”. These pay raises will have the effect of attracting and holding onto more employees. When more people in the middle class have more money, they will be able to spend more which will eventually stimulate the economy thus lowering the inflation rate and solving all of our economic problems.
ReplyDeleteWages have been down for a long time, for about 5 years. The implications for economic growth in the future is that if wages exceed inflation, then middle class Americans would be able to spend more money which would stimulate the economy because, as the middle class makes up about 47% of the population.
The normal rate of acceptable inflation to create growth in the US economy is about 2 percent. The current inflation rate is currently around this 2 percent value. The author feels that pay raises may start to beat this inflation rate this year. Prior to the crash in 2008, wage raises were as high as 4% while inflation remained low. Since the crash, the percent change in wages has been approximately 2 percent, which matched inflation. However, as the economy continues to recover, there is a lower supply of available labor. This drop in available labor is giving laborers more bargaining power for wages since they cannot be as easily replaced. Since wages are currently at the level of inflation and the decreased supply of laborers will allow wages to rise, they will rise to above the level of inflation. However, these changes are not occurring in every field. Fields such as tech and health care are having success and can implement these increased wages. However, some struggling fields like energy may still be at or below inflation. The rate of change of wages has been decreasing since the crash in 2008 and has been around the inflation rate since 2010. If wages do exceed inflation, middle class Americans will have more money that they can spend and stimulate more economic growth.
ReplyDeleteThe normal rate of acceptable inflation to create growth in the United States' economy is about two percent. The current inflation rate in the United States is remotely close to two percent. The author sees that at this rate of inflation pay raises will occur for employees and that the pay raise will beat the inflation rate to three percent. Although the author states that companies/industries will be beating the inflation rate at three percent, not all companies/industries will receive the benefit and it is mainly limited to careers in the consulting, tech, manufacturing, and health care relevance.
ReplyDeleteWages were stated to have been down since the year 2010, which accumulates to a clean five years to this date. Since the crash in 2008, the inflation rate had decreased and wages were down since 2010. If wages in turn exceed the inflation rate than the economy will benefit from the increase in profits due to the advancement in spending on goods and services which stimulates and provides economic growth for the United States' economy.
The “normal” rate of acceptable inflation to create growth in the economy is 2%, of which is also our current inflation rate. The author believes that pay raises will beat inflation because it is a sign that the “slack” in the labor force is fading. Meaning that companies are trying to keep their employees. Wages have been down since 2010 even though the economy crashed in 2008.
ReplyDeleteIf it is true that raises exceed inflation, then it will mean more growth for the economy. Since higher wages will increase spending and in turn, allow the economy to grow.
The normal rate of acceptable inflation to create economic growth is 2 percent. The current inflation rate is around 2 percent. The author feels that pay raises will beat inflation because companies are paying employees more. The wage increases are around 3 percent, which may be low, but it is the first time in a long time that wages are growing at a faster rate than inflation is. Companies are raising their wages in order to attract employees.
ReplyDeleteWages have been down since the economy crashed in 2008. Since then, wages have been hovering around 2 percent increases, which is basically the same as the inflation rate. If it is in fact true that wage raises exceed inflation, this will help support economic growth. Higher wages increase consumer confidence which will cause consumers to spend more. Increased consumer spending is good for our economy and will help businesses as well.
The “normal” rate of acceptable inflation to create growth in the economy is stated to be around 2$. Right now, the current inflation is also around 2%. Emily Peck thinks that a salary increase will exceed inflation due to the fact that about 70% of our nation and its companies will each plan to increase salary by around 3% this year. This information was recorded through a survey that was sent out in the beginning of the year and the results have shown that businesses have all seen less laziness in the labor market right now. Because of this, business owners are finding new ways to keep their employees at their business and stay there to increase productivity levels.
ReplyDeleteWages have been down ever since the year 2010, where to this year, 2015 means wages have been down for a total of around 5 years. It is in fact true that raises of salary for employees exceed inflation and so increasing the wages of the labor force will lead to an increase in the ability of consumers to purchase more goods and services and therefore shall help the economy grow and stabilize.
The "normal" rate of acceptable inflation to create economic growth is around 2%. Currently, inflation is around 2%. Emily Peck, the author, believes that an increase in salaries will exceed inflation because 70% of the United States' companies will be each increasing salaries by around 3% this year. Companies are increasing wages in order to keep employees at the company, increase productivity, and attract new employees.
ReplyDeleteEver since the crash in 2008, wages have been down. Wage increases have hovered around 2% since then and if wages were to increase then the economy could benefit. When wages increase, consumers are more willing to purchase goods and services, contributing to economic growth. This is especially true for the middle class which makes up about 47%. This stabilizes the economy in times of economic hardship.
The "normal" acceptable rate of inflation to create economic growth is at or just about 2%. The current inflation rate is roughly around 2%. The author feels that the pay raises will beat inflation because the bussiness are seeing less "slack" in the job markets, pay raises are in line to attract more workers. The expected wage growth projected by the survey is 3%. Wages have stagnated below or at the inflation rate ever since the crash of 2008.
ReplyDeleteIf this assertion holds true, then the United States is going to be seeing positive economic growth. The implications of this growth will benefit well as far as we know, certain industries. This surpassment marks a new phase in United States economic recovery. Ever since the crash of 2008 and the implementation of government policies. the effects are now being seen with this new wage increase. Although this wage increase is good, a full recovery is still underway because this 3% increase is only in certain industries. Any wage increase is good increase, because money that goes out has an effect, that effects, the effect. (multiplier)
The normal rate of acceptable inflation is around 2%, which is what we are currently at. Peck, the author of the article, feels that the wage rate will increase by 3% this year, because companies want to attract new employees. The increase in wages will lead to an increase in consumer spending, which will lead to better economic growth. Wages have been down since the depression of 2008. Now that wages might outpace inflation, we can expect larger economic growth due to more spending, and helps the economy stabilize.
ReplyDeleteThe normal rate of suitable inflation to create growth in the economy is two percent. At this percentage rate, around 2 percent per year, the rate roughly matches the inflation rate. The normal rate of sufficient inflation to create growth in the economy is 2%.The author feels that the pay raises will beat inflation because the business are seeing less slack in the job markets, pay raises are in line to attract more workers. Wages were stated to have been down since the year 2010, which accumulates to a clean five years to this date. Since the crash in 2008, the inflation rate had decreased and wages were down since 2010. According to the author, if wages do exceed inflation, middle class Americans will have more money that they can spend and stimulate more economic growth.
ReplyDeleteThe normal acceptable rate of inflation in an economy for growth is at two percent. The current inflation rate for the U.S sits at 2% as well, meaning our economy can sustain growth. The author feels that pay raises will beat inflation because wages are going to increase by 3%, higher than the inflation rate. 70% of businesses themselves say they are raising wages, primarily because they are starting to realize it's an incentive to keep people at a job. Wages have apparently been down since 2010, so the increase will most likely increase workers. If wages exceed inflation like they are supposed to, the middle class Americans will spend more and help stimulate economic growth in many of our markets. Also, more people will be willing to work with the higher wages.
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ReplyDeleteThe normal rate of acceptable inflation is roughly between 1 and 2%, which has matched the rate at which wages have increased in the past years. Real wages have stayed the same, though nominal wages have “risen.” What’s so special about the upcoming year is that pay might have a higher rate of increase than the 2% inflation increase caused by financially prosperous companies in this time of recovery. This isn’t for all companies necessarily, for 70% of U.S companies will see an increase by 3%. That’s a 1% increase in real wages. These particular companies statistically are consulting, tech, manufacturing and health; it’s going to match or be less for media, energy, and retail, according to studies by Duke University.
Ever since the 2008 crash, recovery has been well known but the consequent increase in wages has yet to see its day. Wages have increased by about 1-2% every year. By having a higher wage than inflation, this means unemployment may go down and that the GDP will certainly increase. People will want to work now that they’ve gotten more purchasing power on their money, which leads to more spending. This might hurt net exports due to increased purchasing power, but consumer spending will go up. By doing this, aggregate demand increases and recovery will speed up. Despite beating inflation, prices levels will go up, and – for the time being – we’ll enjoy a relatively good economic period.
The normal rate of inflation to create growth in the economy is 2%. The most recent Consumer Price Index measurement for the month of January was negative .7%, but this article says that inflation has been hovering at around 2% for the past couple years. I would base my answer based on the CPI rather than the author of this article, therefore I can conclude that the inflation rate in America is at around -.7%.
ReplyDeleteThe author feels that pay raises will beat inflation because a survey of more than 500 U.S. chief financial officers says that 70 percent of U.S. companies plan to raise pay by about 3%. Wages have been low since the beginning of the financial crisis in 2008. If raises do indeed exceed inflation this year, then economic growth will continue to expand in the near future. This is because there is less slack in the labor market, and higher wages will encourage more workers to seek employment. This encouragement would lead to a greater use of our country's resources.
The “normal” rate of acceptable inflation to create growth in the economy would be about two percent. This is the level where wages have been dwelling ever since the decrease in hourly wages back in 2008. The current inflation rate is around two percent. The author feels that the pay raises will beat inflation because the bussiness are seeing less "slack" in the job markets, pay raises are in line to attract more workers. The expected wage growth projected by the survey is 3%. Wages have stagnated below or at the inflation rate ever since the crash of 2008. Wages have been down since about 2008, and it has been struggling to get back up, but the numbers haven't really moved much since 2010. If it is in fact true that wage raises exceed inflation, this will help support economic growth. Higher wages increase consumer confidence which will cause consumers to spend more. Increased consumer spending is good for our economy and will help businesses as well.
ReplyDeleteThe normal rate of inflation is considered to be at two percent. This number is meant to create growth in the economy, but does not over inflate the price level. The current rate of in inflation has been fluctuating at around two percent the past couple years also. The author believes that wages will beat inflation because the expected wage growth survey has wage growth at three percent, while the inflation rate is at two percent. The wage growth can be attributed to the lowered unemployment rate which shifts power from companies to employees. Wages have been down since 2008 and if the article is right then this could be the last sign that the economy is almost back to normal post-great recession.
ReplyDeleteThe "normal" rate of acceptable inflation, according to the article is 2%. Ironically, this is just where we are at in our economy at the moment. The author feels that pay raises will beat inflation because 70% of workers are expected to receive a 3% raise in their income. Employers are finally seeing that in order to keep their workers happy, and keep them from "slacking", they must give them an incentive to keep working- more money! This is only for people in certain fields though. Wages have been down since 2008, when the economy basically crashed and entered a recession. In the future, the middle class will benefit greatly from this raise, causing them to want to spend more money. This in turn will stimulate the economy, causing a rapid growth.
ReplyDeleteThe “normal” rate of acceptable inflation to create growth in the economy is about two percent and the price level has been two percent since the recession in 2008. The currently inflation rate is 2 percent. The author believes that pay wages will beat inflation because a survey showed that 70% of the companies in the United States play to raise pay by at least three percent. The author believes that this survey is “an early sign that businesses are finally seeing less “slack” in the labor market. That means there's a shrinking number of Americans who are so desperate for work that they can't bargain for better pay.” Wages have been down since the beginning of 2010. This would result in more consumer spending because of a higher amount of disposable income.
ReplyDeleteInflation is a concerning problem in the U.S. and has been for many years. The “normal” rate of acceptable inflation to create growth in the economy is 2%. This is good news for us because our current rate of inflation IS 2%. This means the u.s. economy is in good condition in terms of inflation. The raise in wages is expected to beat inflation due to companies planning to pay 3% this year to its employees. The pay raises will attract and hold onto the employees of that company and if not raised, the wages would cause people to quit since the cost of living is increasing as well.
ReplyDeleteWages have been down for about 5 years now which is a problem for the middle class. In the future, with this wage increase, Americans will be able to spend more which will stimulate the economy and counter inflation since the middle class consists of over 40% of the country.
If it is true that raises exceed inflation, what are the implications for economic growth in the future and WHY??
ReplyDeleteThe normal rate of acceptable inflation to create growth in an economy is 2 percent, and the current rate of inflation is that same 2 percent. The author feels that pay raises will beat inflation because a recent study of 500 US CFO's, done by Duke University's School of Business, states that 70% of US companies plan to increase pay by 3% this year, which is 1% higher than the current inflation rate. Wages have been down since 2008 when the great recession initially took its hit. If wages do increase greater than inflation than we can expect a good amount of economic growth because people will have a greater amount of disposable income, which means that consumers will spend more and more because of the multiplier effect and everyone receiving more business and in turn more money.
Its a miracle! HIGHER WAGES!! Sorry about that, had to do it. Finally employers are having to pay more to attract labor. These are great news. Higer wages will enrich our economy, giving households more purchasing power. And the most important thig is that wages are expected to increase more than inflation, so the wages will actually translate into an increase in purchasing power for households. So wages go up faster than inflation, and that leads to...? Well this means the economy is normalizing. In theory, we are reaching the predicted long run figures for when the full-blown recession hit in 2008. WE are now coming out of the inflation the monitary policy put us into, and the markets are regulating. From here, if the idiotic buisness people don't messit up, we can expect slow steady growth again. The inflation rate is at 2%, and we want it to be at 3% so we are fairly close, as well as with the desired 5% unemployment and 5.5% actual unemployment. So what should we do now? Well i believe we should invest the money. As a nation, we are falling behing other nations in education. We seek to lead this world into a better future with clean energy and where everyone can read and write, and yet we are more worried about Ferguison, Missoury than about all the schools in the country, and we pay more to get into an Ariana Grande concert than we do in efforts to find better, cleaner, and safer alternitive energy sources. If this truly is to be a growth period, why not grow in the right direction, into the future?
ReplyDeleteThe normal rate of inflation is supposed to be between 1 and 2 percent. In this past year, the inflation rate was 2% which has, as we have seen since 2008, the norm for wage rates to increase. The author detailed his findings that companies in the tech, consulting, health, etc business will have a 3% increase in wage earnings, which would be a 1% increase in real wages. Wages have been down since 2008 with the economic recession that’s left us at very minimal wage increases amidst a very growing market.
ReplyDeleteIf it’s true that raises will exceed inflation, this means that the real wage will finally increase. Before, nominal wages tended to be different but the real wage stayed the same because of inflation. Now, higher wages mean a greater demand of people wanting to work, which increases the amount of output in consumer spending for the GDP. This is a process of recovery, which will ultimately see a rise in price levels despite the greater amount of power the dollar will hold if we beat the inflation rate. If the report is correct, this will be great for consumers.
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ReplyDeleteThe Studies and recent activity show indicators that the slow rate of our economic recovery may actually benefit us financially. The "normal" rate of acceptable inflation to create growth in the economy is two percent. The growth rate is the same as the inflation rate so 2%.
ReplyDeleteThe author believes that pay raises will beat inflation because about 70% of companies in the U.S. are going to raise employee wages by about 3 percent. Companies are increasing wages in order to keep employees at the company, increase productivity, and attract new employees. Wages have been down since 2008 - 2010; Wages have been down for 5 years.
The implications for economic growth in the future is that, if it holds true that the raises exceed inflation, then it will mean more growth for the economy. Since higher wages will increase spending and purchasing power so in return will allow the economy to grow.
Studies shows indicators that the slow rate of our economic recovery may benefit us financially. The regular rate of inflation is 2 percent to stimulate growth, where we are, but 70 percent of American companies are raising their rates 3 percent. This is because companies are believing there is less slack in the labor market, and are therefore raising their rates to encourage workers to come to their businesses and to stay at their company. This raise is focused on companies is consulting, manufacturing, tech and healthcare fields, but not those in energy, retail and media.
ReplyDeleteThe single percentage point difference means that those affected may actually get to keep the extra money in their pocket. Wages have been down since about 2008, and it has been struggling to get back up, but the numbers haven't really moved much since 2010. John Graham says that America is “finally entering a new phase in economic recovery.” This is proven by the 1% sitting in the middle classes pockets. With being able to spend more, this is stimulating the economy, promoting further growth. Inflation could end without any consequences,in the best case scenario.
The normal rate of acceptable inflation to create growth in the US economy is approximately 2%, the same percentage for the inflation rate. Before the economic crash in 2008, wage raises were still around 4% while inflation stayed low. Currently, the wage and inflation rates are at approximately 2%. As the economy recovers, labor rate has declined. Now this gives laborers more freedom to ask for wage raises.
ReplyDeleteDue to the equal percentage of both wage and inflation rates, and a rise in wages due to the lowered number of laborers, the wages will rise above the current level of inflation. While this is occurring in many professions and fields, the technology and health care can afford the increased wages. Since 2010, the wage rate percentage has been closely aligned with inflation rate. Should wages exceed inflation, Middle Class Americans would be able to spend more money, which would then stimulate the economy, as the middle class makes up about 47% of the population, and would have a huge effect on America’s economy.
The normal acceptable rate of inflation to create growth in the United States's economy is currently 2%. At this rate per year, this growth rate is coincidentally the same as the inflation rate. The current inflation rate is two percent, which is good, and for a couple of reasons. The author feels that because of this, the pay will raise to eventually beat the inflation rate because many companies will pay their employees about three percent this year. The companies that were mentioned are those in the fields of “consulting, tech, manufacturing and health care”. These pay raises will have obvious positive effects, such as keeping a lot of their employees as well as attracting a couple more too. The economy gains from this tremendously. If the people have more money (which results from the higher pay wages) they are going to spend more; they have more economic leeway to buy things that they weren't necessarily buying before due to the amount of change they had jingling in their pockets.
ReplyDeleteThe implications for economic growth in the future is that if wages exceed inflation, then middle class Americans would be able to spend more money which would stimulate the economy because the middle class makes up 47% of the population, which is a hefty number in terms of economic growth due to spending.
The “normal” rate of acceptable inflation to create growth in the economy is 2%. According to the article the current inflation rate stands at around 2%. The author feels that pay raises will beat inflation because of a survey conducted earlier in the year indicated that 70% of U.S. companies plan to raise pay by at least 3%. Businesses found that in order to attract employees they must raise their wages.
ReplyDeleteBased on the chart from the St. Louis Fed. Wage growth in the U.S. has been low since the crash of 2008. After efforts to recover from the crash, wages have stagnated around 2% per year. If wages were to exceed inflation, then we should surely expect to see economic growth. Higher wages will serve to attract employees. We should expect an increase in consumer spending as individuals will have more money in their pockets. I believe this is critical for our middle-class because they are the backbone of our nation and consumer spending accounts for nearly 70% of our GDP. I foresee an economic growth and stability in light of the sudden increase in wages.
Studies and recent activity a showing indicators that the slow rate of our economic recovery may actually benefit us financially. The regular rate of inflation is 2 percent to stimulate growth, where we are, but 70 percent of American companies are raising their rates 3 percent. This is because companies are believing there is less slack in the labor market, and are therefore raising their rates to encourage workers to come to their businesses and to stay at their company. This raise is focused on companies is consulting, manufacturing, tech and healthcare fields, but not those in energy, retail and media. The single percentage point difference means that those affected may actually get to keep the extra money in their pocket. Wages have been down since about 2008, and it has been struggling to get back up, but the numbers haven't really moved much since 2010. John Graham says that America is “finally entering a new phase in economic recovery.” This is proven by the 1% sitting in the middle classes pockets. With being able to spend more, this is stimulating the economy, promoting further growth. In a best case scenario, this could end inflation very quickly without any consequences.
ReplyDeleteThe “normal” rate of acceptable inflation to create growth in the economy is 2%. The current inflation rate is 2%. This pay raises will beat inflation because about 70% of companies in the U.S. are going to raise employee wages by about 3 percent. This means that companies will use this pay raise as a way to attract more workers or get them to stay. Also Before 2008 wage raises were at 4% and inflation still remained low. This raise in wages will create economic growth because consumers have more money and are likely to stay in the workforce because of the higher pay they receive, this is like the industrial revolution were one company decided to pay its workers more than other and that company saw a huge increase in productivity.
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