If every other store in town is paying workers $9 an hour, one offering $8 will find it hard to hire anyone - perhaps not when unemployment is high, but certainly in normal times. Robust competition is a powerful force helping to ensure that workers are paid what they contribute to their employers' bottom lines.
Christina RomerI think something that forces financial institutions to write down underwater mortgages, I think, would be a sensible thing to do.
Christina RomerWhat I desire to point out is that I wish the law was not so, but that being the law, I must follow it.
Christina RomerA natural way that an economist approaches a problem is to say, here's where I think the economy is going; this is what we need to deal with the problem.
Christina Romer