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I think most business owners are playing a game of prisoners' dilemma, and they see cutting wages as the easiest and fastest way to inflate their bottom line. However, some studies have shown that paying workers more (i.e. cooperating instead of being adversarial) can increase a company's bottom line by forming a more symbiotic relationship between labor and capital, for example by allowing wage earners to afford products in the marketplace that leads to a virtuous cycle.