On the other hand, also as an economist and from my own personal experience, there's a whole host of non-monetary benefits a flexible business can provide (which other businesses and corporates seem to balk at), and there's also the little talked about preference of some people wanting a negative correlation between pay and hours the job at the margin.
I've got my own stories. Issues I've had at previous employers include remote working, flexible hours, leave, intellectual property disputes over my own work, or non compete/ non publication issues.
When I left my previous job at banking, I actually interviewed for a lower paid position at uni of Melb. We got to the stage where we were all happy, only I said "I'll work for you if I can do 4 days a week, because I want to send time with my family and working on my own projects".
The bureaucracy said no.
I walked away and I'm back in a higher paying job again...(but with better hours and conditions than my previous ones).
Its always amazing to me the lengths businesses will go to in order to not hire the right staff...