Week 1 Assignment

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Miami Dade College, Miami *

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Economics

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Feb 20, 2024

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Week 1 Assignment 1. List the four schools of thought along with the basic cause of the labor problem and the solution to the labor problem for each.  The four schools of thought consist of. Neoliberal : Focuses on the financial activity of self-interested agents who communicate in a competitive market. Through free-market competition, we can achieve efficiency, equity, and voice (Budd, 2021). Neoliberalism says labor problems aren't exploited if there's enough competition in the market. The best protection an employee can have against their employer is other employers. When working conditions are bad or undesirable, employees can quit and find another employer who provides better working conditions. However, if competition isn't enough, a macroeconomic policy stimulates the economy, leading to less unemployment and more competition. Additionally, labor market competition can also be affected by other barriers, like government regulations, which are only able to be removed when the barriers are removed.  Human resources management's school of thought describes that labor problems stem from poor management. Management practices need to be improved to solve this problem. By implementing management best practices, employees can become more engaged and efficient at their tasks. Some of these management practices include better managerial techniques, selection procedures, compensation systems and evaluation and promotion mechanisms. When workers' interests and needs align with management policies, equity can also be achieved.  Industrial relations school of thought believes the cause of labor problems is unequal bargaining power between individual workers and corporations who see workers as inferior to them (Budd, 2021). A solution to the problem is a balance of power between employee and employer. Increasing workers' bargaining power by forming independent labor unions and pursuing collective bargaining (Budd, 2021).  Critical Industrial Relations school of thought stresses that capitalist institutions do not simply exist but are created by society through laws governing market transactions or business incorporation, and through social norms governing acceptable behaviors. This school of thought focuses our attention on how dominant groups design and control institutions to serve their personal interests, albeit imperfectly due to resistance from competing groups (Budd, 2021). Labor unions can be important in critical industrial relations. The solution to the labor problem is to restructure the nature of capitalism.

2. Explore the online exhibit about the 1911 Triangle Shirtwaist Factory fire ( www.ilr.cornell.edu/trianglefire ). A. What were the working conditions like? Search the Internet for information on sweatshops in the 21st century. o Based on the data provided by the case study, the workers were working in inhuman and unsafe working conditions which the workers were subjected to work in New York garment factories in the 1900's. It also mentions that the cluttered and cramped working conditions created a higher risk of fire with an impossible chance of quick evacuation during an emergency. b. How do these compare to sweatshops of the early 20th century? o Sweatshops were considered outside environments for working as early as the mid- 20th century. Agents of sweatshops criticized outsider specialists for creating such poor working conditions and low salaries, claiming that the sweatshops had become filthy because foreigners had been involved. Sweatshops advanced with the development of the clothing industry in the nineteenth and mid-twentieth centuries. Sweatshops helped transform the industry into what it is today. Sweatshops in the Caribbean and Latin America are not generating an industry in their respective countries. This is because the clothing industry, of which they are a part, is already established and competent. Sweatshops are no longer viewed as a compulsion in developing the national economy; they only satisfy over-utilization and realism (Budd, 2021). c. If modern sweatshops are a problem, what should be done? o To address these sweatshop problems, we should encourage organizations to encourage their suppliers to provide better working conditions and wages. Often, employers threaten their workers that if they do not improve their working conditions, they will have to find another employer and lose their jobs. As a result, the employer would be forced to improve sweatshop working conditions. Legislation should be enacted to protect sweatshop workers from mistreatment. It is recommended that they establish a department for checking working conditions at random without informing the directors of the findings. The practice of manhandling is common in many sweatshops processing plants. Minor errors or deferrals are often met with verbal mistreatment. In some cases, directors have used their own clothing or shoes to hurt their specialists and have even called them names. If specialists turn up late or skip a day, you must work for them, or else they will be fired (Budd, 2021).

Reference: Budd, J.W. (2021 ). Labor relations: striking a balance (6th ed.) . McGraw Hill. Kheel Center, Cornell University. The 1911 Triangle Factory Fire. http://www.ilr.cornell.edu/index.html

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