Arbitration, law and economics: not such strange bedfellows

Article Abstract:

Arbitration gives economists the opportunity to apply economic principles in a practical manner, explaining the significant number of arbitrators with an economics background. Some of the principles that are involved in arbitration include: the least cost method, where management chooses lesser charges in return for quicker and easier resolution; risk avoidance; and resolution through private settlements to avoid final offer arbitration, all of which are based on the law of demand.

Economics, Research and Development in the Social Sciences and Humanities, Economic aspects, Education, Employment, Economists, Commercial arbitration, Arbitrators

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Labor standards and North American free trade: economic dynamics or dilemmas?

Article Abstract:

The North American Free Trade Agreement presents the public policy dilemma of balancing possible reduced prices for some commodities with the loss of jobs to the lesser-developed country of Mexico. Labor standards may also erode. The free trade which exists in the European Community is not a good analogy since none of the EC countries is underdeveloped. There may be pressure for amendments to the agreement once effects such as eroded labor standards become evident.

Mexico, United States foreign relations, Mexican foreign relations, Free trade

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Labor-management cooperation: real or nominal changes in collective bargaining?

Article Abstract:

Employee representation in management programs are part and parcel of collective bargaining. The psychological and sociological theories underlying collective bargaining apply to labor-management cooperation as well. Employee-management cooperation programs will work better if their terms are negotiated in advance with unions and this will help forestal claims of employer domination of these programs.

Collective bargaining, Participatory management

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