Companies that pay high wages compared to their industry competitors,such as Nucor Steel and General Motors did for many years,are likely to go bankrupt.

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Companies that pay high wages can still be successful and profitable if they have a strong business model and manage their costs effectively. While high wages may impact profitability in the short-term, they can also lead to a more productive and motivated workforce, which can ultimately benefit the company in the long-term. However, if wages become unsustainable and the company cannot compete with lower-cost competitors, it can lead to financial difficulties and potentially bankruptcy. Therefore, it ultimately depends on the specific circumstances and management of the company.

Companies That Pay High Wages Compared to Their Industry Competitors,such