Intro -- Contents -- Acknowledgements -- 1. Introduction -- 2. Methods -- 3. Time and Location -- 4. Morale -- 5. Company Risk Aversion -- 6. Internal Pay Structure -- 7. External Pay Structure -- 8. The Shirking Theory -- 9. The Pay of New Hires in the Primary Sector -- 10. Raises -- 11....

I describe insights into wage dynamics and downward wage rigidity obtained from more than two hundred interviews with businesspeople, labor leaders, and various labor market intermediaries and made in the early 1990s in the Northeast of the United States. I explain the morale explanation for...