Chapter 12, Problem 2AA

To determine

To describe the role and work of organized labor in the economy of the U.S.

Explanation of Solution

The role of organized labor in the U.S economy can be understood through the law the country maintains such as right-to-work law or minimum wage law, which keeps in mind the rights and needs of the workers. Along with that, organized labor unions can be kept by understanding and resolving their disputes with various modes of Mediation, collective bargaining, etc so that practices such as strikes, lockouts, picketing can be avoided. There has to be an understanding between the employers and the workers and for that various local unions form to keep their needs and point-of-view in front of the management. Union shops are also important to be formed so that workers can get a relief that they are not alone and everyone comes together so as to solve whatever the disputes are and a healthy environment can be maintained.

It is really important for any organization to live not just with the motive of profit but also satisfaction to all the personnel working in the organization which can be done by providing a better environment for work and healthy relations among the employers and the employees so that overall productivity can be increased with efficiency.

Economics Concept Introduction

Introduction:

Minimum wage law:  This is law maintained for providing the workers with a subsistence level of wages so that they can get their basic needs fulfilled of food, clothing & shelter.

Labor union: Labor unions are formed so as to get the increased wages and the benefits regarding the job in the industry along with the healthy environment to work in with job security.

Strike: It is refusing to work under the terms and conditions of the employers by all the employees.

Local union: It is the union of the workers of a local company or  region with a national or international union head.

Union shop: It is a term which means a company in which people who enter in the company not belonging to any union have to join the union under some specified time period so as to keep their jobs.

Right-to-work law: This law provides the workers with the right to choose if they want to be a part of the union or not.

Collective bargaining: It is the process in which the unions try to negotiate with the employers regarding the conditions of their employment, their benefits, health safety, etc so that their work and family life could have a proper balance.

Mediation: It is a way to resolve the issues through appointing a third party as a mediator so that an agreement can be made by the way of communicating and coming to a settlement.

Picketing: It is an act of persuading the workers or the employees to not work with the employer and create a pressure on the mind of the employer.

Lockout: It is the process of denial of providing employment to the workers during the dispute in the company by the management.