1. Historically when bargaining between labor and management has broken down, the consequences have been costly. Strikes can go on for months, preventing companies from producing output and workers from working. In the National Labor Relations Act (Wagner Act) of 1935 and the Labor-Management Relations Act (Taft-Hartley Act) of 1947, policy makers created constraints within which these potentially devastating failures to bargain would be kept to a minimum. a. How do these acts do this? b. Is this most consistent with Normative Hobbes Theorem or the Normative Coase Theorem? Explain.

1. Historically when bargaining between labor and management has broken down, the consequences have been costly. Strikes can go on for months, preventing companies from producing output and workers from working. In the National Labor Relations Act (Wagner Act) of 1935 and the Labor-Management Relations Act (Taft-Hartley Act) of 1947, policy makers created constraints within which these potentially devastating failures to bargain would be kept to a minimum. a. How do these acts do this? b. Is this most consistent with Normative Hobbes Theorem or the Normative Coase Theorem? Explain.

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter19: Earnings And Discrimination

Section: Chapter Questions

Problem 3PA

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