One of the best-known and most-quoted books ever written on
labor unions is "What Do Unions Do?" by Richard Freeman and James
Medoff. Published in 1984, the book proved to be a landmark because
it provided the most comprehensive and statistically sophisticated
empirical portrait of the economic and socio-political effects of
unions, and a provocative conclusion that unions are on balance
beneficial for the economy and society.
The present volume represents a twentieth-anniversary
retrospective and evaluation of What Do Unions Do? The objectives
are threefold: to evaluate and critique the theory, evidence, and
conclusions of Freeman and Medoff; to provide a comprehensive
update of the theoretical and empirical literature on unions since
the publication of their book; and to offer a balanced assessment
and critique of the effects of unions on the economy and society.
Toward this end, internationally recognized representatives of
labor and management cover the gamut of subjects related to
unions.
Topics covered include the economic theory of unions; the
history of economic thought on unions; the effect of unions on
wages, benefits, capital investment, productivity, income
inequality, dispute resolution, and job satisfaction; the
performance of unions in an international perspective; the reasons
for the decline of unions; and the future of unions. The volume
concludes with a chapter by Richard Freeman in which he assesses
the arguments and evidence presented in the other chapters and
presents his evaluation of how "What Do Unions Do?" stands up in
the light of twenty years of additional experience and research.
This highly readable volume is a state-of-the-art survey by
internationally recognized experts on the effects and future of
labor unions. It will be the benchmark for years to come.
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