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Higher wage paid to encourage productivity
In labor economics, an efficiency wage is a wage paid in excess of the market-clearing wage to increase the labor productivity of workers. Specifically
Efficiency_wage
American economist and government official (born 1946)
the topic: "A precursor to the efficiency wage literature...it had an influence, although the work on efficiency wage theory has had a bigger influence
Janet_Yellen
Economic theory
In labour economics, Shapiro–Stiglitz theory of efficiency wages (or Shapiro–Stiglitz efficiency wage model) is an economic theory of wages and unemployment
Shapiro–Stiglitz_theory
Lowest remuneration which can be paid legally in a state for working
they can increase labor market efficiency and employment in monopsony scenarios, where individual employers have some wage-setting power over the market
Minimum_wage
American economist (born 1940)
Memorial Prize. In Efficiency Wage Models of the Labor Market, Akerlof and coauthor/wife, Janet Yellen propose rationales for the efficiency wage hypothesis in
George_Akerlof
American economist and Nobel Laureate (born 1943)
during recessions, because wages are kept 'too high'. Possible corollary: Wage sluggishness. Moving from one private cost of hiring (w∗) to another private
Joseph_Stiglitz
Economic concept, a fixed price or wage
contracts as a poor basis for real wage rigidities, new Keynesian economists sought other explanations. Efficiency wage theories explain why firms might
Real_rigidity
Condition in which a person is unemployed despite being willing to work
including implicit contract theory, disequilibrium theory, staggered wage setting, and efficiency wages. The officially measured unemployment rate is the ratio
Involuntary_unemployment
School of macroeconomics
willing workers unemployed. The most important of these theories was the efficiency wage theory used to explain long-term effects of previous unemployment,
New_Keynesian_economics
Metaphor for job promotion
Retrieved 10 April 2025. Akerlof, G. A. (1984). "Gift Exchange and Efficiency-Wage Theory: Four Views". The American Economic Review. 74 (2): 79–83. JSTOR 1816334
Career_ladder
Economic model of endogenous growth
the R&D sector n {\displaystyle n} , and the y-axis represents the efficiency wage ω {\displaystyle \omega } . The red curve represents the set of points
Aghion–Howitt_model
of California, Berkeley Adverse selection (The Market for Lemons), Efficiency wage, Identity economics Michael Spence (1943–) Harvard University (PhD
List of Nobel Memorial Prize laureates in Economic Sciences
List_of_Nobel_Memorial_Prize_laureates_in_Economic_Sciences
of 49 tons per day, and therefore being able to earn the increased efficiency wage of $1.85. Other workers who had tried and failed to load the target
Henry_Noll
British-Irish economist
1467-937X https://doi.org/10.2307/2296887 (4) "Unemployment and the efficiency wage hypothesis", Economic Journal, 91(364), December 1981, 848–866. Print
James_M._Malcomson
Study of an economy as a whole
also cause more search unemployment because of increased mismatch. Efficiency wage models are labor market models in which firms choose not to lower wages
Macroeconomics
Situation where economic forces are balanced
correspond to market clearing (but instead to unemployment), as with the efficiency wage hypothesis in labor economics. In some ways parallel is the phenomenon
Economic_equilibrium
U.S. government efficiency initiative
The Department of Government Efficiency (DOGE) was a second Trump administration initiative in the United States. Despite its name, it was not a federal
Department of Government Efficiency
Department_of_Government_Efficiency
Topics referred to by the same term
coffee break Shirking model, part of the economic principle of the efficiency wage USS Shirk (DD-318), a United States Navy destroyer in service 1921
Shirk
Surveillance of workers' activity
employees' on-the-job performance can make economic sense according to efficiency wage theory, while surveillance to prevent illegal activities should be
Employee_monitoring
costs. efficiency wage Originally referred to the wage per efficiency unit of labor. Marshallian efficiency wages are those calculated with efficiency or
Glossary_of_economics
Wage Payment Systems are the different methods adopted by organizations by which they remunerate labour. There exist several systems of employee wage
Wage_payment_systems
Concept in labour economics
Wage differential is a term used in labour economics to analyze the relation between the wage rate and the unpleasantness, risk, or other undesirable
Compensating_differential
1936 book by John Maynard Keynes
preference, and gave new prominence to the multiplier and the marginal efficiency of capital. The central argument of The General Theory is that the level
The General Theory of Employment, Interest and Money
The_General_Theory_of_Employment,_Interest_and_Money
Social activity undertaken by non-governmental nonprofit organizations; "third sector"
United States, which is a factor now considered in the analysis of efficiency wage. More recent researchers such as Peter Frumkin have also supported
Voluntary_sector
Act of Parliament about Indian labour law
of Fair Wage. This committee came up with the concept of a minimum wage, which not only guarantees bare subsistence and preserves efficiency but also
Minimum_Wages_Act,_1948
and to consumer demand curves. Efficiency wage hypothesis – hypothesis of wage paid in excess of the market-clearing wage to increase the labor productivity
Outline_of_economics
Marxian economic concept
younger people decide to emigrate to a place where they can find work. Efficiency wage Full employment Guaranteed minimum income Ghost job Involuntary unemployment
Reserve_army_of_labour
German economist
labor economics are papers on the theory of wealth distribution, efficiency wages and wage discrimination, in which Schlicht offers rationales for why such
Ekkehart_Schlicht
Theories relating to firms' roles in the economy
in a stable and sustainable manner. Efficiency wage models like that of Shapiro and Stiglitz (1984) suggest wage rents as an addition to monitoring, since
Theory_of_the_firm
Study of the markets for wage labour
make rational choices based on the information that they know regarding wage, desire to provide labour, and desire for leisure, to maximise utility over
Labour_economics
French-Swedish economist
and the ethnic minorities residing there. Search-matching models, efficiency-wage models, urban ghettos and labor markets are discussed in detail. Yasuhiro
Yves_Zenou
Type of game theory
employed with an equivalent wage level will exert greater effort. This then continues to result in a higher market efficiency and higher rent than those
Gift-exchange_game
Methodology used to improve production
manufacturing focuses on efficiency of inventory strategy to eliminate waste and enhance productivity, Lean manufacturing uses efficiency in its system setups
Lean_manufacturing
American economist (born 1931)
the United States, which is a factor considered in the analysis of efficiency wage. Weisbrod was born on February 13, 1931, in Chicago. He graduated from
Burton_Weisbrod
Rise of wage adjusted for inflation
Wage growth is a trend of increases in wages, in contrast to wage stagnation. Real wage growth is an increase in wages adjusted for inflation, while nominal
Wage_growth
Economics of labour within companies
selecting individuals who are most deserving based on their performance. Efficiency wage Human capital Internal labor market • Edward Lazear, 2008. "personnel
Personnel_economics
Economy-wide wage and price controls
Incomes policies in economics are economy-wide wage and price controls, most commonly instituted as a response to inflation, and usually seeking to establish
Incomes_policy
financial resources (fiscal efficiency) and what are the impacts of this tax system on overall economic efficiency. If tax efficiency needs to be assessed,
Tax_efficiency
optimal wage policies arises. A cross-country study by Van Rijckeghem and Weder endeavours to find empirical support for the fair-wage and efficiency wage hypotheses
Civil service reform in developing countries
Civil_service_reform_in_developing_countries
American attorney (born 1982)
Opportunity Commission from 2020 to 2021; and as the acting administrator of the Wage and Hour Division in 2019. Sonderling graduated from the University of Florida
Keith_Sonderling
Political philosophy and reform movement
resisting involuntary unemployment, public education, social security, minimum wage laws, antitrust laws, legislation protecting labor rights, and the rights
Progressivism in the United States
Progressivism_in_the_United_States
Defensive lines of the war
Alexander; McCabe, Riley (9 June 2023). "Seizing the Initiative in Ukraine: Waging War in a Defense Dominant World". Center for Strategic and International
Fortifications of the Russian invasion of Ukraine
Fortifications_of_the_Russian_invasion_of_Ukraine
Unit of measurement for monetary quantities
The wage unit is a unit of measurement for monetary quantities introduced by Keynes in his 1936 book The General Theory of Employment, Interest and Money
Wage_unit
term shocks from becoming long term increases in unemployment. In efficiency wage models, workers are paid at levels that maximize productivity instead
History of macroeconomic thought
History_of_macroeconomic_thought
American economist (born 1948)
directly. Macroeconomic models, including real business cycle models, efficiency wage models and search/matching models, have long had difficulty accounting
Paul_Milgrom
US campaign for a flexible living wage
Locality Wage, (formerly Universal Living Wage - ULW), is an ongoing campaign, launched by Richard R. Troxell, to revise the federal minimum wage and its
Universal_Living_Wage
Relationship between employee and employer
and actual processes. Employers must balance interests such as decreasing wage constraints with a maximization of labor productivity in order to achieve
Employment
Proposed insurance to cover salary losses
Wage insurance is a form of proposed insurance that would provide workers with compensation if they are forced to move to a job with a lower salary. The
Wage_insurance
Group of macroeconomic theories
assumption that "wage bargains ... determine the real wage". The first lies in the fact that "labour stipulates (within limits) for a money-wage rather than
Keynesian_economics
Historical economic period during the Industrial Revolution in Britain
questioning its existence. Twenty-first-century technological upheaval and wage stagnation have led economists and academics to draw parallels between the
Engels'_pause
Businessman and public official (born 1971)
the President and as the de facto head of the Department of Government Efficiency (DOGE). Musk left the Trump administration in May 2025 and returned to
Elon_Musk
Economic system based on private ownership
profit motive, capital accumulation, competitive markets, commodification, wage labor, and an emphasis on innovation and economic growth. Capitalist economies
Capitalism
1989–1991 unification process of Germany
West lies in the Western labor unions' demand for high-wage pacts in an attempt to prevent "low-wage zones". This caused many Germans from the East to be
German_reunification
Labour union agreements in Australia
1988, established what it termed the Structural Efficiency Principal (SEP). This principal conferred wage increases to unions who committed to restructuring
Prices_and_Incomes_Accord
Lost economic efficiency
of taxation), or a binding price ceiling or price floor such as a minimum wage. Assume a market for nails where the cost of each nail is $0.10. Demand decreases
Deadweight_loss
Proposed tax reform
of economic efficiency, and was preferable to government interference in the market (as happens in modern economies through the minimum wage) which damages
Negative_income_tax
Discrimination based on economic factors
higher than the funding of schools in traditionally African American areas. Wage gaps for minorities are also founded in history. Prejudice against women
Economic_discrimination
policies. In the 1920s, businessmen found the most profitable wage to be the "efficiency wage", one that attracted more productive workers. This resulted
Causes of unemployment in the United States
Causes_of_unemployment_in_the_United_States
Subarea of optimal tax theory
welfare function subject to these constraints. It faces a tradeoff between efficiency and equity: Higher levels of taxation on the rich create revenue that
Optimal_labor_income_taxation
Sociological study of social organizations
centralized, but what they lacked in locality they made up for in efficiency. Along with wage dependency and externalities, the growth of industry also played
Organizational_theory
Theory of labor economics
of labor economics that explains how firm behavior, national welfare, and wage negotiations are affected by a group in a more privileged position. The theory
Insider–outsider theory of employment
Insider–outsider_theory_of_employment
Leader of China since 2012
movement was also arrested and detained. According to activists, "Xi is waging the most severe systematic suppression of Christianity in the country since
Xi_Jinping
American mechanical engineer (1856–1915)
methods to improve industrial efficiency. He was one of the first management consultants. In 1909, Taylor summed up his efficiency techniques in his book The
Frederick_Winslow_Taylor
Federal office in the United States
The Wage and Hour Division (WHD) of the United States Department of Labor is the federal office responsible for enforcing federal labor laws. The Division
Wage_and_Hour_Division
Direct reciprocal exchange of goods or services without the use of money
developed a "theory of equitable exchange" as a critique of the exploitative wage relationship between capitalist and labourer, by which all profit accrued
Barter
End of the historical linkage between gross national product and wages
beginning of the twenty-first century. This problem furthermore leads to wage stagnation for the median despite continued economic growth overall. Mathematically
Decoupling of wages from productivity
Decoupling_of_wages_from_productivity
Economic conflict since 2025
regulations Tax system Labor law Child labor laws Right-to-work law Minimum wage Food safety Finance and banking Financial services Dollar Bureau of Engraving
2025–2026 United States trade war with Canada and Mexico
2025–2026_United_States_trade_war_with_Canada_and_Mexico
Index of social mobility of the World Economic Forum
participation rate Workers in vulnerable employment (as a percentage) Pillar 7: Fair Wage Distribution Low pay incidence (as a percentage of workers) Ratio of bottom
Global_Social_Mobility_Index
Inputs used in the production of goods and services with economic value
the established organization of society and its economy. The increasing efficiency of the means of production via the creation and adaptation of new technologies
Means_of_production
American data annotation company
United States on military-related projects, and with Qatar to improve the efficiency of its social programs. In June 2025, Meta Platforms spent more than $14
Scale_AI
Theory of management
analyzes and synthesizes workflows. Its main objective is improving economic efficiency, especially labor productivity. It was one of the earliest attempts to
Scientific_management
Spanish cooperative federation
minimum wage paid in their cooperative. Most worker-owners do not earn the minimum wage because most jobs are classified at higher wage levels. The wage ratio
Mondragon_Corporation
Income tax paid to the government by the income-payer
Most developed countries operate a wage withholding tax system. In some countries, subnational governments require wage withholding so that both national
Tax_withholding
American politician (born 1980)
equity, he is an advocate of legislation to end workplace discrimination and wage discrimination and is a supporter of the Me Too movement.[non-primary source
Joe_Kennedy_III
Political party in the United States
minimum wage and all six initiatives passed. In 2017, Senate Democrats introduced the Raise the Wage Act which would raise the minimum wage to $15 an
Democratic Party (United States)
Democratic_Party_(United_States)
Pension scheme in India
Institutions and Local Bodies; impact of various pay revisions; introduction of wage indexation, and significant improvement in life expectancy which results
Old_Pension_Scheme
Vocational training organization
class-action lawsuit against the company, alleging that the company committed wage theft against her and other workers. Fedcap settled the lawsuit in 2023,
Fedcap Rehabilitation Services
Fedcap_Rehabilitation_Services
American politician (born 1966)
Ma launched the Small Business Energy Efficiency Financing and the Affordable Multifamily Energy Efficiency Financing programs in October 2019 to help
Fiona_Ma
Maritime security strategy of the European Union
Eurozone Euro International status and usage Transport TRACECA Minimum wage Average wage Unemployment rate Health expense per person Politics Concepts European
European Union Maritime Security Strategy
European_Union_Maritime_Security_Strategy
South Vietnamese military officer and politician (1924–2020)
nationalist politicians, perhaps even in a coalition government, could nonetheless wage a democratic struggle against the VC. The nationalists might attract popular
Trần_Ngọc_Châu
Country in northwestern Europe
statistics. UK labour laws establish employment rights including a minimum wage, a minimum of 28 days annual holiday, parental leave, statutory sick pay
United_Kingdom
Argentine footballer (born 1987)
Retrieved 1 September 2016. Settimi, Christina. "Lionel Messi's Coronavirus Wage Cut Could Cost Him $50 Million". Forbes. Archived from the original on 20
Lionel_Messi
Ongoing armed conflict in West Asia
threaten the United States and its interests. Iran in turn accused the US of waging "disinformation and misinformation" campaigns against it. The Council on
2026_Iran_war
Unskilled or skilled worker
defined separately as a factory worker. Laborers are in a working class of wage-earners in which their only possession of significant material value is their
Laborer
Revenue service of the U.S. federal government
in 1862: The initial rate was 3% on income over $800, which exempted most wage-earners. In 1862 the rate was 3% on income between $600 and $10,000, and
Internal_Revenue_Service
List of landmark US court cases by year
association West Coast Hotel Co. v. Parrish, 300 U.S. 379 (1937) Minimum wage legislation is a valid regulation of freedom of contract; seen as ending
List of landmark court decisions in the United States by year
List_of_landmark_court_decisions_in_the_United_States_by_year
Dönmez said that improvement of the energy efficiency of public buildings should take the lead and that efficiency improvements are an important source of
Energy_in_Turkey
Prime Minister of the United Kingdom from 1979 to 1990
continued to experience difficulties with oil embargoes and union demands for wage increases in 1973, subsequently losing the February 1974 general election
Margaret_Thatcher
Study of silk industry players in Lyon
1831, the first revolt of the canuts supported the demand for a minimum wage, first negotiated and then rejected by the manufacturers. From November 21
Silk_industry_in_Lyon
Full coverage of the policies of a US senator
greenhouse gas emissions in the US and the creation of millions of high wage jobs. In her floor speech Murkowski called for reducing domestic and global
Political positions of Lisa Murkowski
Political_positions_of_Lisa_Murkowski
American political commentator (born 1988)
healthcare, free tuition at public colleges and universities, a federal living wage, reduction in military spending, military non-interventionism, abolition
Kyle_Kulinski
Ethnic cleansing of Palestinians
nature of the Gaza war that "From an operational standpoint, you cannot wage a war like the IDF wants to in Gaza while the masses are between the tanks
Nakba
President of the United States (2017–2021; since 2025)
Retrieved October 1, 2021. Blake, Aaron (July 6, 2016). "Donald Trump is waging war on political correctness. And he's losing". The Washington Post. Retrieved
Donald_Trump
Professor of Economics
firms with higher wage premia and women earning smaller wage premia than men within the same firm – account for about 20% of the gender wage gap in Portugal
Patrick_Kline
announced the minimum wage will lift by 8.6 per cent and award rates will rise 5.75 per cent but some economists warned the wage rise would add inflationary
List of The Weekly with Charlie Pickering episodes
List_of_The_Weekly_with_Charlie_Pickering_episodes
1982 philosophy book by Marshall Berman
doctor, the lawyer, the priest, the poet, the man of science, into its paid wage-laborers." Berman believes that Marx makes this statement critiquing practically
All That Is Solid Melts into Air
All_That_Is_Solid_Melts_into_Air
"Progressive and Communist scientists will never contribute their knowledge to wage war against the Soviet Union". As a result, he was promptly dismissed from
History of France's civil nuclear program
History_of_France's_civil_nuclear_program
Right to leave regulated by US labor law
with 23% of workers in the highest-wage quartile receiving paid maternity leave versus 5% of workers in the lowest-wage quartile. The lack of monetary compensation
Parental leave in the United States
Parental_leave_in_the_United_States
Devaluation of money's purchasing power
the future. Positive effects include reducing unemployment due to nominal wage rigidity,allowing the central bank greater freedom in carrying out monetary
Inflation
American businessman and government official (born 1962)
easing, and fiscal stimulus). Bessent opposes raising the federal minimum wage in the United States, calling it "more of a statewide and regional issue"
Scott_Bessent
EFFICIENCY WAGE
EFFICIENCY WAGE
Boy/Male
Tamil
Rahulraj | ராஹà¯à®²à®°à®¾à®œ
Efficient, Capable
Rahulraj | ராஹà¯à®²à®°à®¾à®œ
Boy/Male
Indian, Punjabi, Sikh
Intelligent; Efficient
Boy/Male
Hindu, Indian, Marathi
An Efficient Architect
Girl/Female
Arabic
Efficient
Girl/Female
Indian
Efficiency, Care
Girl/Female
Hindu, Indian, Marathi, Sanskrit
Sufficiency
Girl/Female
Tamil
Durga, Agile, Efficient, Swift
Boy/Male
Tamil
Vishwadakshinah | விஷà¯à®µà®¾à®¤à®•à¯à®·à¯€à®¨à®¾à®¹
Skilfull and efficient Lord
Vishwadakshinah | விஷà¯à®µà®¾à®¤à®•à¯à®·à¯€à®¨à®¾à®¹
Boy/Male
Arabic, Muslim
Sufficiency; Competence; Enough
Girl/Female
Gujarati, Indian
Efficient
Boy/Male
Indian, Sanskrit
Skillful; Efficient
Girl/Female
Assamese, Gujarati, Hindu, Indian, Kannada, Malayalam, Marathi, Telugu
Agile; Efficient
Girl/Female
Tamil
Dakshhtha | தகà¯à®·à®¾à®¹à®¤à®¾
Efficiency, Care
Dakshhtha | தகà¯à®·à®¾à®¹à®¤à®¾
Boy/Male
Hindu
An efficient horse rider
Boy/Male
Hindu, Indian, Punjabi, Sikh
Capable; Skilful; Efficient
Boy/Male
Arabic
Sufficiency; Competence
Boy/Male
Hindu
Efficient, Capable
Girl/Female
Indian
Cleverness, Honesty, Brilliance, Efficient
Girl/Female
Tamil
Cleverness, Honesty, Brilliance, Efficient
Boy/Male
Muslim
Sufficiency. Competence.
EFFICIENCY WAGE
EFFICIENCY WAGE
Girl/Female
Hindu, Indian
One who can Perceive
Male
Welsh
Welsh surname transferred to forename use, derived from ap Rhys, PRYCE means "son of Rhys."
Boy/Male
Arabic, Muslim
Shining
Girl/Female
Indian, Marathi
Princess
Boy/Male
Arabic, Muslim
Garden; Paradise
Girl/Female
Spanish Italian
Girl/Female
French American
The french form of the English Carol, a dimunitive of Charles meaning strong.
Boy/Male
Hindu, Indian
Decision Maker
Female
English
Variant spelling of English Fay, FAE means "fairy."
Boy/Male
Indian
Alagar Swami
EFFICIENCY WAGE
EFFICIENCY WAGE
EFFICIENCY WAGE
EFFICIENCY WAGE
EFFICIENCY WAGE
a.
Strong; powerful; efficient.
n.
Sufficiency; plenty; abundance; contentment.
n.
Efficient contrivance; management; agency.
n.
An efficient cause; a prime mover.
n.
The ratio of useful work to energy expended.
n.
That which is wanting; deficiency.
n.
Deficiency; imperfection.
n.
Self-sufficiency.
a.
Furnished with whatever serves to add strength, force, or efficiency.
n.
Joint efficiency; cooperation.
n.
Conceit; self-confidence; self-sufficiency.
n.
Causing effects; producing results; that makes the effect to be what it is; actively operative; not inactive, slack, or incapable; characterized by energetic and useful activity; as, an efficient officer, power.
n.
The quality or state of being insufficient; want of sufficiency; deficiency; inadequateness; as, the insufficiency of provisions, of an excuse, etc.
pl.
of Deficiency
n.
Same as Deficiency.
n.
Alt. of Efficiency
n.
The quality of being efficient or producing an effect or effects; efficient power; effectual agency.
n.
The quality of being inefficient; want of power or energy sufficient; want of power or energy sufficient for the desired effect; inefficacy; incapacity; as, he was discharged from his position for inefficiency.
v. t.
Power of action; agency; efficiency.
v. i.
Efficient; vigorous; brilliant.