Obesity, Wages, and the Labor Market

In recent years, the epidemic of obesity in the United States has a wide range of influences, and as more and more literatures support this phenomenon, we observe the actual influence of obesity on the public health and labor market results You can do. Economically, obesity consumes valuable resources from the country's medical budget, reduces the productivity of workers by increasing the number of absentee days, and more to employers 'over-fat employees' medical plans I will force you to spend. These factors prove that obesity abandons valuable income and expenditure to taxpayers to support high medical costs and treatment of obesity.

Like all market imperfections, monopoly in the labor market leads to a loss of social welfare, a so-called "burden reduction" and inefficient and less than optimal labor market results. In a single labor market, wages are lower than the marginal product of labor, marginal productivity and total employment rate of labor are lower than social optimum level. In other words, wages are too low compared to social optimality, the labor force in production is not fully utilized. In theory, in the completely competitive labor market, the employer judged that wages will not be affected even if employers hire workers or not, because the employer is the payee of wages I will. However, if the employer has exclusive rights, consider the wage of marginal workers - how wages of "workers" employed by employers affect wages paid to all other workers You can put in.

Wage labor is a socio-economic relationship between workers and employers, and workers sell labor according to formal or informal labor contracts. These transactions are usually done in the labor market, wages are determined by the market. Except for special cases of vesting of intellectual property rights patents in the United States where patent rights normally belong to the first individual inventor as exchange of wages paid by exchange, the work products are usually undifferentiated property of the employer . A wage worker is such that its main income comes from the sale of that labor force in this way.