Political Economy by Barry Clark Professor Emeritus

Author:Barry Clark Professor Emeritus
Language: eng
Format: epub
Publisher: ABC-CLIO

Chapter 10

Labor and Industry

Work occupies a central role in the lives of most people, and the organization of work affects nearly all dimensions of human existence. Political economists have long debated the question of how best to coordinate society’s productive activities. How should labor be divided, firms and industries organized, and authority delegated? Is the market alone capable of yielding the optimal organization of work or does government play a necessary role in assuring that work is both efficient and satisfying to the people involved? In this chapter, we investigate sharply contrasting interpretations of the role of work in human life, the structure of authority in production, and the effect of labor unions on the economy.

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