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Published in:
1957 | OriginalPaper | Chapter
The Impact of Collective Bargaining on the Wage Structure in the United States
Author : Lloyd G. Reynolds
Published in: The Theory of Wage Determination
Publisher: Palgrave Macmillan UK
Included in: Professional Book Archive
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The impact of trade unionism on relative wage rates and on the allocation of resources has been a standard subject of theoretical economic discussion for decades. Trade unions were presumed to be analogous to business monopolies in intent and general strategy and their behaviour deducible from first principles, whereby the economic consequences could be predicted from the established body of value theory.