Who Were the Sea Peoples?

The teacher is somewhat annoying, but the explanation is good, I think:

Bob Murphy asks Daniel Kuehn: "Do you think there are at least 1000 workers in the United States who produce more than $20/hour for their employers, yet they are only earning minimum wage?" My guess would be: "Certainly." Too many economists have no idea how companies hire people. I have done it at several places. Here's what happens: Someone higher up in the company decides some task needs to be done. They give you the task. You say, "Well, OK, but I'll need a couple more programmers." "How much will they cost?" "Good Java programmers get around $100,000 per year." "Hmm... can you get by with one full-timer and one part-timer?" "Yeah, I guess so..." "OK, do it." Most likely, no one in the company has any real idea how much this project is worth. No one has any real idea what the value of the output of these 1 and 1/2 programmers is. All that matters is whether the higher up i...