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A famous monologue from Shakespeare's As You Like It begins: All the world's a stage,
And all the men and women merely players;
They have their exits and their entrances,
And one man in his time plays many parts
Which theory of social life could be seen as taking its inspiration from these lines?
Rules of Thumb
Simple, general principles or guidelines that are typically derived from practice rather than theory.
Efficiency Wage Theory
Suggests employers pay a higher wage than the market equilibrium to increase worker productivity and loyalty.
Worker Productivity
A measure of output per labor hour.
Fairness
The quality of being just, equitable, and impartial; often a subjective measure in economic and social contexts.
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