There are multiple equilibria. At-will favors agility.
On the other end of the spectrum we find economies where most of the workforce is informally or short-term employed and where new-firm formation is limited by employers' aversion to hiring and senior employees' reluctance to leave cushy jobs from which it is nigh-impossible to be fired.
> paraphrase a rather decent well and septic guy on TikTok
There are multiple equilibria. At-will favors agility.
On the other end of the spectrum we find economies where most of the workforce is informally or short-term employed and where new-firm formation is limited by employers' aversion to hiring and senior employees' reluctance to leave cushy jobs from which it is nigh-impossible to be fired.
> paraphrase a rather decent well and septic guy on TikTok
They are quoting Lee Iacocca.