This book challenges some of the fundamental tenets of "free
market" economics that have had a profound impact on public policy
and the plight of the American worker. These include the beliefs
that high wages inevitably mean low profits; that a "free" market
will automatically reduce discrimination and pay inequality; that
anti-trust legislation hinders competitive market forces; and that
minimum wage laws and trade unions negatively impact the economy.
Using both theoretical analysis and real-life examples, the
author shows that these myths are a product of unrealistic
behavioral assumptions on the part of "free market" economists
about the typical worker. In fact, as the author makes clear, the
level of workers' satisfaction with their jobs, as a reflection of
how well they are paid and treated by their employers, has a direct
impact on the quality level of the products they produce and,
inevitably, the economic performance of the firms.
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