Work is, and always will be, a central institution of society. What makes a capitalist society unique is that it treats the human capacity to engage in labor as a basic commodity. This can be a source of dynamism, as when innovative firms raise wages to attract the best and brightest. But it can also be a source of misery, as when one’s skills are suddenly rendered obsolete by forces beyond one’s control. Jeffrey J. Sallaz asks us to rethink our basic assumptions about work. Drawing on cutting-edge theories within economic sociology and through the use of contemporary examples, he conceptualizes labor as embedded exchange. This draws attention to issues that all too frequently are overlooked in our public discourse and private imaginations: how various forms of work are classified and valued; how markets for labor operate in practice; and how people can challenge the central fiction that their work is simply a commodity to be bought and sold. This readable and engaging book is suitable for both graduate and advanced undergraduate students. It will be of interest to economic sociologists, scholars of labor, and all of those who find themselves working for a living.

As the structure of the economy has changed over the past few decades, researchers and policy makers have been increasingly concerned with how these changes affect workers. In this book, leading economists examine a variety of important trends in the new economy, including inequality of earnings and other forms of compensation, job security, employer reliance on temporary and contract workers, hours of work, and workplace safety and health. In order to better understand these vital issues, scholars must be able to accurately measure labor market activity. Thus, Labor in the New Economy also addresses a host of measurement issues: from the treatment of outliers, imputation methods, and weighting in the context of specific surveys to evaluating the strengths and weaknesses of data from different sources. At a time when employment is a central concern for individuals, businesses, and the government, this volume provides important insight into the recent past and will be a useful tool for researchers in the future.

For every person who reads this text on the printed page, many more will read it on a computer screen or mobile device. It’s a situation that we increasingly take for granted in our digital era, and while it is indicative of the novelty of twenty-first-century capitalism, it is also the key to understanding its driving force: the relentless impulse to commodify our lives in every aspect. Ursula Huws ties together disparate economic, cultural, and political phenomena of the last few decades to form a provocative narrative about the shape of the global capitalist economy at present. She examines the way that advanced information and communications technology has opened up new fields of capital accumulation: in culture and the arts, in the privatization of public services, and in the commodification of human sociality by way of mobile devices and social networking. These trends are in turn accompanied by the dramatic restructuring of work arrangements, opening the way for new contradictions and new forms of labor solidarity and struggle around the planet. Labor in the Global Digital Economy is a forceful critique of our dizzying contemporary moment, one that goes beyond notions of mere connectedness or free-flowing information to illuminate the entrenched mechanisms of exploitation and control at the core of capitalism.

This book presents a detailed explanation of the essential elements that characterize capital labor relations and the resulting social conflict that leads to repression of labor. It links repression to the class struggle between capital and labor. The starting point involves an historical approach used to explore labor repression after the American Revolution. What follows is an examination of the role of government along with the growth of American capitalism to analyze capital-labor conflict. Subsequent chapters trace US history during the 19th century to discuss the question of the role assumed by the inclusion/exclusion of capital and labor in political-economic structures, which in turn lead to repression. Wholesale exclusion of labor from a fundamental role in framing policy in these institutions was crucial in understanding the unfolding of labor repression. Repression emerges amid a social struggle to acquire and maintain control over policy-making bodies, which pits the few against the many. In response, labor attempts to push back against institutional exclusion in part by the formation of labor unions. Capital reacts to such actions using repression to prevent labor from having a greater role in social institutions. For instance, this is played out inside the workplace as capital and labor engage in a political struggle over the function of the workplace. Given capital’s monopoly of ownership, capital employs various means to repress labor at work, including the introduction of technology, mass firings, crushing strikes, and the use of force to break up unions. The role of the state is not to be overlooked in its support of elite control over production, as well as aiding through legal means the growth of a capitalist economy in opposition to labor’s conception of greater economic democracy. This book explains how and why labor continues to confront repression in the 20th and 21st centuries.

This book presents a probabilistic approach to studying the fundamental role of labor in capitalist economies and develops a non-deterministic theoretical framework for the foundations of political economy. By applying the framework to real-world data, the authors offer new insights into the dynamics of growth, wages, and accumulation in capitalist development around the globe. The book demonstrates that a probabilistic political economy based on labor inputs enables us to describe central organizing principles in modern capitalism. Starting from a few basic assumptions, it shows that the working time of employees is the main regulating variable for determining strict numerical limits on the rate of economic growth, the range of wages, and the pace of accumulation under the present global economic system. This book will appeal to anyone interested in how the capitalist mode of production works and its inherent limitations; in particular, it will be useful to scholars and students of Marxian economics. “Emmanuel Farjoun and Moshé Machover, follow up their pathbreaking work on the application of statistical physics methods to political economy in this book with David Zachariah, in which they develop methods for making educated and structured estimates of stylized facts applicable to capitalist economies. There’s a lot for economists and anyone interested in the political economy of capitalism to learn from their reasoning on these issues, including their novel and challenging suggestion of bounds on the rates of increase of use-value productivity of labor, and on the range of variation of the wage share.” Duncan K. Foley, Leo Model Professor of Economics, New School for Social Research

Most labor economics textbooks pay little attention to actual labor markets, taking as reference a perfectly competitive market in which losing a job is not a big deal. The Economics of Imperfect Labor Markets is the only textbook to focus on imperfect labor markets and to provide a systematic framework for analyzing how labor market institutions operate. This expanded, updated, and thoroughly revised second edition includes a new chapter on labor-market discrimination; quantitative examples; data and programming files enabling users to replicate key results of the literature; exercises at the end of each chapter; and expanded technical appendixes. The Economics of Imperfect Labor Markets examines the many institutions that affect the behavior of workers and employers in imperfect labor markets. These include minimum wages, employment protection legislation, unemployment benefits, active labor market policies, working-time regulations, family policies, equal opportunity legislation, collective bargaining, early retirement programs, education and migration policies, payroll taxes, and employment-conditional incentives. Written for advanced undergraduates and beginning graduate students, the book carefully defines and measures these institutions to accurately characterize their effects, and discusses how these institutions are today being changed by political and economic forces. Expanded, thoroughly revised second edition New chapter on labor-market discrimination New quantitative examples New data sets enabling users to replicate key results of the literature New end-of-chapter exercises Expanded technical appendixes Unique focus on institutions in imperfect labor markets Integrated framework and systematic coverage Self-contained chapters on each of the most important labor-market institutions

An integrated framework to study the theoretical and quantitative properties of economies with frictions in labor, financial, and goods markets. This book offers an integrated framework to study the theoretical and quantitative properties of economies with frictions in multiple markets. Building on analyses of markets with frictions by 2010 Nobel laureates Peter A. Diamond, Dale T. Mortensen, and Christopher A. Pissarides, which provided a new theoretical approach to search markets, the book applies this new paradigm to labor, finance, and goods markets. It shows, in particular, how frictions in different markets interact with each other. The book first covers the main developments in the analysis of the labor market in the presence of frictions, offering a systematic analysis of the dynamics of this environment and explaining the notion of macroeconomic volatility. Then, building on the generality and simplicity of the search analysis, the book adapts it to other markets, developing the tools and concepts to analyze friction in these markets. The book goes beyond the traditional general equilibrium analysis of markets, which is often frictionless. It begins with the standard analysis of a single market, and then sequentially integrates more markets into the analysis, progressing from labor to financial to goods markets. Along the way, the book provides a number of useful results and insights, including the existence of a direct link between search frictions and the degree of volatility in the economy.

This concerns the dignity and the degradation of labour. Work has great power to undermine or to foster happiness. Bernard feels the moral dimension of labour has been neglected in political theory and practice and he aims to restore productive labour to its place in moral and political debate.