Efficiency vs. control: a strategic bargaining analysis of capitalist production

Article Abstract:

Capitalist firms may at times seek to compromise production efficiency so as to exercise stronger control over the production process and, consequently, the bargaining power of their employees. An analysis of the capital-labor conflict with a strategic bargaining model reveals that allocational and distributional motives play a big part in capitalist-employee relationships. While capitalist firms seek to maximize profits, they balance the advantages of productivity against bargaining power before deciding on a production strategy.

Production (Economics)

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Structure and agency in the capital-labor relation

Article Abstract:

The relationship between capital and labor is viewed by radical economists as essentially an opportunistic one in which capital would sacrifice production efficiency for control. The 'control implies inefficiency' hypothesis is not supported by the methodological framework of either mainstream or Marxist economics. A redefining terminology which gives equal importance to the interests of both the capitalist and the labor class would reconcile mainstream individualist thinking and Marxist structural theory.

Labor economics, Marxist economics

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Overhead workers and political economy macro models

Article Abstract:

Traditional political economy macro models usually incorporate only two social class variables: capitalists who receive gross profits, and workers who earn wage income. A third class, comprising managers and salaried nonproduction employees otherwise known as overhead workers, can explain stagnation in models dealing with mature capitalism. The concept of gross profits and their allocation to the third class as well as their long-term use for capacity utilization are central to the third class model.

Macroeconomics

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