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winner-takes-all market


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Is an occupational labour market in which there are widely differing rates of pay for those performing ostensibly the same kind of work. Those at the top of their profession will earn very high, and arguably disproportionate, salaries for the work that they perform. The emergence of winner-takes-all labour markets has been identified widely in higher skilled occupations (managers and professionals) in developed economies and is one of the factors associated with rising income inequality; inequality is increasing, that is, within as well as between occupational groups in the labour market. [See tournament theory and war for talent.]

Subjects: Human Resource Management.


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