Betsy Stevenson

One big thing we talked a lot about was whether we should require forms of compensation outside of wages. Like, should people be required to get paid sick days? Should we require that people get paid maternity or paternity leave? What makes a good job and what's the role of government in shaping the conditions?

One big thing we talked a lot about was whether we should require forms of compensation outside of wages. Like, should people be required to get paid sick days? Should we require that people get paid maternity or paternity leave? What makes a good job and what's the role of government in shaping the conditions?

Yeah, it's hard because we all have different preferences. And I think the hope of economists who believe in market forces is everybody wants different things and they'll just be able to sort around the labor market until they find the thing that works for them.

Yeah, it's hard because we all have different preferences. And I think the hope of economists who believe in market forces is everybody wants different things and they'll just be able to sort around the labor market until they find the thing that works for them.

Yeah, it's hard because we all have different preferences. And I think the hope of economists who believe in market forces is everybody wants different things and they'll just be able to sort around the labor market until they find the thing that works for them.

economists have come up with two buckets of reasons. So the first bucket is the benefits might be a complement to hard work. We actually see higher productivity because it induces more effort from workers. The second bucket is that employees might value the benefits more than it costs the employer to provide those benefits. So let's start with the first bucket, complement to hard work.

economists have come up with two buckets of reasons. So the first bucket is the benefits might be a complement to hard work. We actually see higher productivity because it induces more effort from workers. The second bucket is that employees might value the benefits more than it costs the employer to provide those benefits. So let's start with the first bucket, complement to hard work.

economists have come up with two buckets of reasons. So the first bucket is the benefits might be a complement to hard work. We actually see higher productivity because it induces more effort from workers. The second bucket is that employees might value the benefits more than it costs the employer to provide those benefits. So let's start with the first bucket, complement to hard work.

It's why every company going back to the 50s that has office workers has coffee in the break room, right? You got to caffeinate your workers to get them to work hard. The tech sector went a little crazy with this, like, hey, let's have ping pong tables. But it really was the same idea. Well, if you're socializing at work, you'll have less of a reason to leave.

It's why every company going back to the 50s that has office workers has coffee in the break room, right? You got to caffeinate your workers to get them to work hard. The tech sector went a little crazy with this, like, hey, let's have ping pong tables. But it really was the same idea. Well, if you're socializing at work, you'll have less of a reason to leave.

It's why every company going back to the 50s that has office workers has coffee in the break room, right? You got to caffeinate your workers to get them to work hard. The tech sector went a little crazy with this, like, hey, let's have ping pong tables. But it really was the same idea. Well, if you're socializing at work, you'll have less of a reason to leave.

One of the more extreme examples was some of the tech companies started providing a benefit, which is we will pay for you to freeze your eggs. Oh, no, we have these hardworking female employees wringing their hands in their early 30s thinking they better have a baby. I know what we'll do. We'll pay to freeze their eggs. And then they'll be able to keep working hard for a few more years.

One of the more extreme examples was some of the tech companies started providing a benefit, which is we will pay for you to freeze your eggs. Oh, no, we have these hardworking female employees wringing their hands in their early 30s thinking they better have a baby. I know what we'll do. We'll pay to freeze their eggs. And then they'll be able to keep working hard for a few more years.

One of the more extreme examples was some of the tech companies started providing a benefit, which is we will pay for you to freeze your eggs. Oh, no, we have these hardworking female employees wringing their hands in their early 30s thinking they better have a baby. I know what we'll do. We'll pay to freeze their eggs. And then they'll be able to keep working hard for a few more years.

Yeah, it's great because you can actually see the categories here, which are clearly a complement to high productivity. Nutrition. They're like, what you eat is going to affect how you play, so we're going to feed you. The weight room, how you train up is going to affect how you play. We're going to give you a weight room.

Yeah, it's great because you can actually see the categories here, which are clearly a complement to high productivity. Nutrition. They're like, what you eat is going to affect how you play, so we're going to feed you. The weight room, how you train up is going to affect how you play. We're going to give you a weight room.

Yeah, it's great because you can actually see the categories here, which are clearly a complement to high productivity. Nutrition. They're like, what you eat is going to affect how you play, so we're going to feed you. The weight room, how you train up is going to affect how you play. We're going to give you a weight room.

This is really about, are we giving you the inputs you need to be as productive as possible? When we think about things like the treatment of families... That's bucket two, I assume? Yeah, this is something that's going to have a cost to them. But the question is, what's the value to the person receiving it? And that value might be quite high.

This is really about, are we giving you the inputs you need to be as productive as possible? When we think about things like the treatment of families... That's bucket two, I assume? Yeah, this is something that's going to have a cost to them. But the question is, what's the value to the person receiving it? And that value might be quite high.

This is really about, are we giving you the inputs you need to be as productive as possible? When we think about things like the treatment of families... That's bucket two, I assume? Yeah, this is something that's going to have a cost to them. But the question is, what's the value to the person receiving it? And that value might be quite high.