Open Access. Powered by Scholars. Published by Universities.®
- Keyword
-
- Allocative efficiency (1)
- Cartels (1)
- Decline in strike activity (1)
- Employment contracts (1)
- General equilibrium theory (1)
-
- Industrial peace (1)
- Information asymmetries (1)
- Internal and external labor markets (1)
- Labor and employment policy (1)
- Labor law (1)
- Law & economics (1)
- Market failures (1)
- NLRA (1)
- National Industrial Recovery Act (1)
- National Labor Relations Act (1)
- Risk aversion (1)
- Seizure of corporations (1)
- Taft-Hartley Act (1)
- The competitive advantage of the non-union sector (1)
- Training (1)
- Transaction costs (1)
- Union density (1)
- Union wage premium (1)
- Violent strikes (1)
- Wagner Act (1)
- War Labor Board (1)
- Welfare (1)
Articles 1 - 2 of 2
Full-Text Articles in Law
The Striking Success Of The National Labor Relations Act, Michael L. Wachter
The Striking Success Of The National Labor Relations Act, Michael L. Wachter
All Faculty Scholarship
Although often viewed as a dismal failure, the National Labor Relations Act (NLRA) has been remarkably successful. While the decline in private sector unionization since the 1950s is typically viewed as a symbol of this failure, the NLRA has achieved its most important goal: industrial peace.
Before the NLRA and the 1947 Taft-Hartley Amendments, our industrial relations system gave rise to frequent and violent strikes that threatened the nation’s stability. For example, in the late 1870s, the Great Railroad Strike spread throughout a number of major cities. In Pittsburg alone, strikes claimed 24 lives, nearly 80 buildings, and over 2,000 …
Neoclassical Labor Economics: Its Implications For Labor And Employment Law, Michael L. Wachter
Neoclassical Labor Economics: Its Implications For Labor And Employment Law, Michael L. Wachter
All Faculty Scholarship
Whereas law and economics appears throughout business law, it never caught on in legal commentary about labor and employment law. A major reason is that the goals of the National Labor Relations Act (NLRA), the country’s foundational labor law, are at war with basic principles of economics. The lack of integration is unfortunate if understandable. Notwithstanding the NLRA’s normative goal to keep wages out of competition, economic analysis applies as centrally to labor markets as to any other market.
One of the NLRA’s primary goals is to equalize bargaining power. Its drafters envisioned achieving this goal through procedural and substantive …