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.
Microeconomics: Principles & Policy
14th Edition
ISBN:9781337794992
Author:William J. Baumol, Alan S. Blinder, John L. Solow
Publisher:William J. Baumol, Alan S. Blinder, John L. Solow
Chapter19: Labor And Entrepreneurship: The Human Inputs
Section: Chapter Questions
Problem 7DQ
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please help answer this question, this regards an Economic Theory of Law
![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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F945c3d61-62c1-43a6-abf3-40f8a98724de%2F96a26bab-c281-4c18-bb55-87bcc6254b2a%2Fv436hw7_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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.
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