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Full Description
Daphne Greenwood presents the first comprehensive introduction to pluralist labor economics. She expands the economics toolbox with theories taken from institutionalist, feminist, social, ecological, and stratification economists. Pluralists, she explains, focus on how formal and informal institutions affect the distribution of productivity dividends—and how this has evolved over time. Pluralists are concerned with job quality as well as financial compensation. They acknowledge the modern-day abundance created by technology, but advocate for institutional changes to direct it in equitable and sustainable ways.
Building on the work of many heterodox economists, Greenwood introduces wage and employment models that are embedded in the economy, environment, and society. Beginning with evidence on work and pay in the US today, she explains why tools for analyzing commodity exchange are not sufficient for analyzing labor relationships. She brings bargaining power to the fore, analyses dynamic monopsony, and looks at the role of wealth as well as income in framing opportunities. Throughout the book, Greenwood addresses threats to sustainability and equity from unpaid social costs; institutional changes such as financialization and fissured workplaces; as well as race-ethnicity and gender. Among the possibilities explored for improving work and pay are sectoral bargaining, job guarantees, worker-owned cooperatives, and universal basic income.
The first undergraduate-friendly book on its topic, Work, Pay and Sustainability is an important resource for students and scholars alike.
Contents
Preface and Acknowledgments
List of Figures and Tables
List of Abbreviations
Introduction
1 Work, Pay and Sustainability: Taking a Pluralist Approach
2 Labor Has Three Faces, Unlike Broccoli
3 Labor and the Web of Working Rules
4 Wages and Why They Vary: The Big Picture
5 Wages and Why They Vary: Demand and Supply
6 How Market Structures and Firm Characteristics Affect Pay
7 Inside the Pyramid: Three Faces and Dual Markets
8 Rising Economic Inequality
9 Job Quality: Beyond Pay and Benefits
10 Work and Pay: New Challenges, New Solutions
11 Work, Pay, and Well-Being in a World of Abundance
12 Taking a Pluralist Approach to Work and Pay
Notes
References
Glossary
Index
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