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Better, fairer growth measures are a vital step towards better, fairer growth. At root, the answer is: power. The gradual diminution of worker-friendly labor market institutions combined with the rise of employer market power have pushed the power pendulum away from workers. Without power, workers lose out.
This is a lesson that Americans learned and then unlearned over the course of the 20th century. Over the past 40 years, however, those organizing rights and institutions that served as the bulwark against unbridled inequality have been dismantled one by one.
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One statistic stands out: in the United States, the share of private sector workers who are union members is now lower than it was before we made the right to organize and strike legal in The decline of those labor market institutions is one big reason why growth is no longer broadly shared. The institutional infrastructure of equality is in disrepair.
It has to be rebuilt or created anew. The good news is that there are plenty of good ideas about what that infrastructure needs to be. One of these is to allow workers to organize across an industry, rather than firm-by-firm. Employees in different firms could then come together to bargain with their employers, without disadvantaging any one firm vis-a-vis its competitors.
Restoring worker power does not mean trying to go back in time to the trade unions of old. Rather, it means creating modern mechanisms.
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Many of these could operate at the international level, too. Todd Tucker, a fellow at the Roosevelt Institute, urges a global labor agreement — what he calls the Worker Power Agreement — modeled on the Paris climate accords.
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One of the main challenges we face is the way that inequality across firms affects the power of employers vis-a-vis employees. One of the most important trends is the rising concentration of market power within industries, which means that in many industries, there are fewer firms controlling individual sectors of the economy.
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This trend towards concentration is a double: on the one hand, as Richard Reeves has highlighted, concentration means that in many communities, a worker in a particular kind of job may have few — if any — choices of who to work for. Rising concentration can limit people from following their dreams by becoming an entrepreneur.
Look at how Amazon buys up potential competitors, limiting innovation and entrepreneurship for those who would like to enter that marketplace. Buy eBook.
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http://bbmpay.veritrans.co.id/donde-conocer-chicos-de-bande.php For more on America , including the latest report detailing the findings above, click here. What do these headlines, ripped from the news, tell us about where America is headed? I shed light on opportunities for global leaders to transform uncertainty into strategic advantage.
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