IRE240H1 Chapter Notes - Chapter READING NOTES: Coase Theorem, Pareto Efficiency, Procedural Justice

• School: UTSG
• Department: Employment Relations, Centre for Industrial Relations and Human Resources
• Course: IRE240H1
• Professor: Dionne Pohler

Document Summary

Ire240 budd (p13-31: the objectives of the employment relationship. Research in the hrm & ir and other disciplines as well as public debates should be grounded in the employment relationship objectives the goals of employers, employees and also of society. These objectives are e ciency, equity and voice: e ective use of scarce resources that provides the means for consumption and investment. Ef ciency is the well-known standard of economic performance the. The most important in mainstream economics, hrm and public debates personal treatment a fair wage, basic social or private insurance coverage, vacation time and nondiscriminatory treatment. Equity encompasses fair employment standards in material outcomes and. Equity and voice are both objectives of labour. Several reasons to distinguish between equity and voice as separate objectives of the employment relationship: 1)equity is often used more narrowly in other disciplines. 2)even in industrial relations, equity sometimes excludes voice.