PPAS 3762 Lecture Notes - Lecture 3: Market Power, Industrial Democracy, Unemployment Benefits

• School: York University
• Department: Public Policy and Administration Studies
• Course: PPAS 3762
• Professor: Sirvan Karimi

Document Summary

Week 3: types of market economies and labour market institutions. Types of market economies: coordinated and uncoordinated market economies. 1-financial system 2- industrial system 3- education/training system 4- intercompany relations. 1-to great extent determine what kind of employment contracts are permissible. 2-delinate the boundaries for wages and other benefits. 3-define the framework for collective bargaining and workers" representation. What is the rationale behind labour market institutions: Addressing uneven market power between employees and employers. Overcoming the inadequacy of markets to provide protection for employment related risks. Minimum age -hours of work: overpay: vacation pay: statutory holidays, minimum wage, severance pay. 5- human rights, pay equity and employment equity. Is projected as a cornerstone of industrial democracy. Collective bargaining and the demand side of the market: securing purchasing power for employees. Thus affecting consumer demand, formal and informal employment. Collective bargaining and the supply side of the market: labour cost, competitiveness. 1-neoclassical perspective on collective bargaining: 2-institutional analysis of collective bargaining.