1. List the four schools of thought along with the basic cause of the labor problem and the solution to the labor problem for each.
2. Explore the online exhibit about the 1911 Triangle Shirtwaist Factory fire (www.ilr.cornell.edu/trianglefire).
a. What were working conditions like? Search the Internet for information on sweatshops in the 21st century.
b. How do these compare to sweatshops of the early 20th century?
c. If modern sweatshops are a problem, what should be done?.
Let’s delve into labor economics and the tragic Triangle Shirtwaist Factory fire.
1. Four Schools of Thought on Labor Problems:
School of Thought | Basic Cause of Labor Problem | Solution to Labor Problem |
---|---|---|
Neoclassical | Supply and demand imbalances in the labor market. Wages are determined by the interaction of worker supply and employer demand. | Market forces should be allowed to operate freely. Government intervention should be minimal. Focus on education and training to improve worker skills and thus their marketability and wages. |
Managerial | Poor management practices, lack of communication, and inadequate leadership. Workers are seen as factors of production, and problems arise from inefficient management. | Improve management techniques, enhance communication between management and workers, and implement better leadership strategies. Focus on efficiency and productivity. |
Human Resources | A mismatch between worker needs and organizational practices. Workers are viewed as valuable assets, and problems stem from neglecting their needs and motivations. | Implement human resource management practices that address worker needs, such as fair wages, benefits, safe working conditions, opportunities for growth, and employee involvement. |
Radical/Marxist | Inherent conflict between capital (owners) and labor (workers) due to the capitalist system. Workers are exploited by capitalists who seek to maximize profits. | Abolish or fundamentally reform the capitalist system to eliminate exploitation and create a more equitable distribution of wealth and power. Advocate for worker ownership or control of the means of production. |
Let’s delve into labor economics and the tragic Triangle Shirtwaist Factory fire.
1. Four Schools of Thought on Labor Problems:
School of Thought | Basic Cause of Labor Problem | Solution to Labor Problem |
---|---|---|
Neoclassical | Supply and demand imbalances in the labor market. Wages are determined by the interaction of worker supply and employer demand. | Market forces should be allowed to operate freely. Government intervention should be minimal. Focus on education and training to improve worker skills and thus their marketability and wages. |
Managerial | Poor management practices, lack of communication, and inadequate leadership. Workers are seen as factors of production, and problems arise from inefficient management. | Improve management techniques, enhance communication between management and workers, and implement better leadership strategies. Focus on efficiency and productivity. |
Human Resources | A mismatch between worker needs and organizational practices. Workers are viewed as valuable assets, and problems stem from neglecting their needs and motivations. | Implement human resource management practices that address worker needs, such as fair wages, benefits, safe working conditions, opportunities for growth, and employee involvement. |
Radical/Marxist | Inherent conflict between capital (owners) and labor (workers) due to the capitalist system. Workers are exploited by capitalists who seek to maximize profits. | Abolish or fundamentally reform the capitalist system to eliminate exploitation and create a more equitable distribution of wealth and power. Advocate for worker ownership or control of the means of production. |