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This is a cost of business as inevitable as employees, plant and machinery. Businesses are figured out ways of managing employee costs: discretionary bonuses. These are ''ostensibly'' tied to business performance — the better we do the more you get paid — but really are tied to ''market'' performance: the higher your bid, the more you get paid. | This is a cost of business as inevitable as employees, plant and machinery. Businesses are figured out ways of managing employee costs: discretionary bonuses. These are ''ostensibly'' tied to business performance — the better we do the more you get paid — but really are tied to ''market'' performance: the higher your bid, the more you get paid. | ||
It would be fun to develop employment derivatives. They would be like interest rate swaps | It would be fun to develop [[employment derivatives]]. They would be like interest rate swaps. | ||
But we can surmise that businesses seeking to borrow money in 2002 might have been thinking rates were abnormally ''low'', and it might be a good time to lock in an interest rate. | But we can surmise that businesses seeking to borrow money in 2002 might have been thinking rates were abnormally ''low'', and it might be a good time to lock in an interest rate. |