The Crumbling of the Old Social Contract

  • Kenneth Chilton
  • Murray Weidenbaum

Abstract

The current wave of employee layoffs by American business firms represents more than just the results of necessary periodic restructuring of companies competing in a dynamic marketplace. The widespread downsizing—and subsequent reorientation of corporate operations—reflects the end of a long-standing informal but strong social contract that historically shaped the nature and the culture of the American workplace. This chapter examines the ferment occurring in labor-management relations in the United States.

Keywords

Starch Europe Platinum Transportation Amid 

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Notes

  1. 1.
    John A. Byrne, “The Pain of Downsizing,” Business Week, May 9, 1994, p. 62.Google Scholar
  2. 2.
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    The labor productivity growth rate over the 1977–1987 period is computed as the annual rate of change in the value of shipments adjusted for inventories (deflated by the proper industry price deflator) divided by the number of employees. Value added is computed by subtracting the real cost of materials from gross output. The value added measure of productivity is the ratio of plant level value added to plant level employment.Google Scholar
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Copyright information

© Kluwer Academic Publishers 1996

Authors and Affiliations

  • Kenneth Chilton
  • Murray Weidenbaum

There are no affiliations available

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