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It is probably a given that people are averse to the idea that bargaining power between two parties be very far from equal. Think about how people feel about big box employers in their relationships with their “lowly” employees.

But would there be much, if any, widespread aversion if the bargaining power tables were turned? Would there be great cries of outrage if owners of firms and entrepreneurs were somehow at the mercy of anyone they hired? Can you envision a situation where such inequality would be likely? Finally, do folks get worked up about high professor pay and cushy working conditions? I’d suggest that in the short-run, professors exercise considerable bargaining power in their relationship with their employer. One reason for that is that perhaps they are just sitting across from themselves at the table. But that’s for another day.

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