This is a book titled "Why wages don't fall during a recession" by Truman F. Bewley, published by Harvard University Press. The book is structured into 22 chapters, including an introduction, methods, time and location, morale, company risk aversion, internal and external pay structures, the Shirking Theory, pay of new hires in the primary sector, raises, resistance to pay reduction, experiences with pay reduction, layoffs, severance benefits, hiring, voluntary turnover, the secondary sector, the unemployed, information, wage rigidity, and labor negotiations, existing theories, remarks on theory, and where to go from here. It also includes notes, references, and an index. The book explores why wages do not decrease during economic downturns, focusing on factors such as company behavior, pay structures, labor dynamics, and economic theories. It examines various aspects of wage determination, including pay structures, employee turnover, layoffs, and the impact of economic conditions on wages. The book provides an in-depth analysis of the relationship between wages and economic recessions, and discusses the role of different economic theories in explaining this phenomenon. The book is intended for academic and professional readers interested in labor economics and economic theory.This is a book titled "Why wages don't fall during a recession" by Truman F. Bewley, published by Harvard University Press. The book is structured into 22 chapters, including an introduction, methods, time and location, morale, company risk aversion, internal and external pay structures, the Shirking Theory, pay of new hires in the primary sector, raises, resistance to pay reduction, experiences with pay reduction, layoffs, severance benefits, hiring, voluntary turnover, the secondary sector, the unemployed, information, wage rigidity, and labor negotiations, existing theories, remarks on theory, and where to go from here. It also includes notes, references, and an index. The book explores why wages do not decrease during economic downturns, focusing on factors such as company behavior, pay structures, labor dynamics, and economic theories. It examines various aspects of wage determination, including pay structures, employee turnover, layoffs, and the impact of economic conditions on wages. The book provides an in-depth analysis of the relationship between wages and economic recessions, and discusses the role of different economic theories in explaining this phenomenon. The book is intended for academic and professional readers interested in labor economics and economic theory.