Welcome to Bookmarker!

This is a personal project by @dellsystem. I built this to help me retain information from the books I'm reading.

Source code on GitHub (MIT license).

(labor markets) when workers subject to performance pay choose to restrict their output, because they rationally anticipate that firms will respond to higher output levels by raising output requirements or cutting pay

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ratchet effect



This proved to be what is called the "ratchet effect" in the historical tendencies of the growing state functions in modern society.

—p.172 Getting Real (163) by Craig J. Calhoun, Georgi Derluguian, Immanuel Wallerstein, Michael Mann, Randall Collins
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7 years, 8 months ago