4 comments on “Economics 101

  1. Some of us are behind a firewall that bans such sites. Without wanting to spoil the punchline, can I ask whether my guess of B. is correct?

    Tim adds: Correct!

  2. Can someone explain “compensation” as a euphemism — if that is what it is — for “pay”? I know I am antediluvian, but to me “compensation” still means “restitution for harm done”. When and why did it change its meaning?

    Tim adds: Technical phrase. “Wages” are what you get in your pay packet. “Compensation” is total package you get for working. Very important when dealing with US incomes etc. For most get health care as part of their compensation. So wages can pretty much flatline (as they have been doing) but compensation still rises quite strongly (as it has been) because health care insurance costs are rising strongly.

  3. Sounds more like a euphemism that allows one to avoid the blunt barbarism of “pay” or, perhaps, “pay ‘n’ perks”, while allowing one to bask in an extra syllable or three.

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