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Working in Silicon Valley - Economic and Legal Analysis of a High-velocity Labor Market (Paperback, New Ed)
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Working in Silicon Valley - Economic and Legal Analysis of a High-velocity Labor Market (Paperback, New Ed)
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During its boom phase, Silicon Valley was a center of attention for
many reasons, but especially for its labor market arrangements.
With the dot.com burst of 2000, many will be tempted to view the
institutions that surrounded Silicon Valley as yesterday's news.
But they would be wrong to do so, for a high-tech labor market
adjusts to the ups and downs of the business cycle. Job market
mobility -- what Alan Hyde in this volume terms "high velocity" --
was and is a key characteristic of Silicon Valley's labor market.
As such, an understanding of Silicon Valley employment practices
provides an understanding of labor market practices in any industry
where mobility is high and the employment relationship is loose.
Hyde suggests that while the work practices associated with high
technology are somewhat unorthodox and may present legal problems,
they play essential roles in high growth. Hyde addresses such
issues as whether trade secret laws ought to give employers more
power against departing employees or should be liberalized to
facilitate start ups. Why do Silicon Valley employers use temporary
help agencies at twice the national rate? Why do they employ so
many engineers and programmers on temporary visas, and what would
happen if that program were cut back? Why are so few Silicon Valley
employees represented by unions? Could new unions serve their
needs? How do well-compensated, highly mobile employees provide for
their retirement or health insurance? Answers to these and many
other questions about today's newest labor markets can be found in
this book. The author shows how understanding these unusual
features of high-velocity labor markets requires an understanding
of how labor marketsfunction like information markets and can be
made to contribute to economic growth.
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