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Four Economic Perspectives on American Labor Law and the Problem of Social Conflict

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  • Eric Posner

Abstract

One of the main purposes of American labor law has been to reduce conflict between employers and workers. This paper discusses the ways in which various doctrines might serve this purpose. Four theories are examined: bargaining with asymmetric information; conflict; herding; and trust. The conflict and herding models provide the most useful perspectives for understanding why conflict (as opposed to inefficiency) is a concern for the government, and how it might be reduced through law.

Suggested Citation

  • Eric Posner, 2003. "Four Economic Perspectives on American Labor Law and the Problem of Social Conflict," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 159(1), pages 101-116, March.
    • Handle: RePEc:mhr:jinste:urn:sici:0932-4569(200303)159:1_101:fepoal_2.0.tx_2-2
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    Cited by:

    1. Justus Haucap & Uwe Pauly & Christian Wey, 2007. "A Cartel Analysis of the German Labor Institutions and its Implications for Labor Market Reforms," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 163(3), pages 503-516, September.
    2. Justus Haucap & Uwe Pauly & Christian Wey, 2007. "A Cartel Analysis of the German Labor Institutions and Its Implications for Labor Market Reforms," Ruhr Economic Papers 0009, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
    3. repec:zbw:rwirep:0009 is not listed on IDEAS

    More about this item

    JEL classification:

    • J5 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining
    • K3 - Law and Economics - - Other Substantive Areas of Law

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