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Publishes in-depth articles on labor subjects, current labor statistics, information about current labor contracts, and book reviews.
In what ways do the actions and economic behavior of today's multinational corporations resemble the functioning and processes of the old command economics of the Soviet Union? By ignoring questions about power relations in markets, mainstream neoclassically-oriented economists conclude that there are no significant power structures operating in market systems to control allocation and distribution. This book argues to the contrary that there are fundamental and systemic power structures - monopoly, access to information or finance, employer power, etc. - at work in market economies, which affects their ability to achieve real "competition" in much the same way as state-controlled, command economies hinder business activities. Thus, for example, the biggest firms at the hubs of financial "networks" wield a kind of "shaping power" upon large numbers of relatively autonomous firms, not only upon those that belong to the networks but also on the many firms outside them that are also affected.
This devastating critique by the authors of The Deindustrialization of America documents how the economic policies of the Reagan era have damaged the American standard of living and suggests how this trend may be reversed.
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Is big business on its way out? The author shows that the big firm is alive and well and becoming more flexible and efficient. He makes the case that although smaller companies have an important role to play, long term economic growth lies with the country's largest global companies.