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This paper discusses why the concept of labor mobility (the degree to which people are free to relocate to other firms, industries or locations in search of a better wage or job) is significant to the law of one wage: equal compensation for equivalent workers and jobs.
From the Paper:"Labor mobility is a significant concept in relation to the one wage law. Labor mobility is the ability of workers to move between industries and locations to obtain higher wages or more favorable working conditions. (Deardorff) The law of one wage refers to equal compensation for equivalent workers and jobs. Under perfect competition, firms set the wage from the market. If wages are set below this wage, workers will leave. If pay is above that wage, the firm is overpaying for labor..."
Cite this Term Paper:
Labor Mobility (2008, December 01) Retrieved July 06, 2020, from https://www.academon.com/term-paper/labor-mobility-127187/
"Labor Mobility" 01 December 2008. Web. 06 July. 2020. <https://www.academon.com/term-paper/labor-mobility-127187/>