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10 - Labor Market Power in the American Political Economy

from III - Corporate Power and Concentration

Published online by Cambridge University Press:  29 October 2021

Jacob S. Hacker
Affiliation:
Yale University, Connecticut
Alexander Hertel-Fernandez
Affiliation:
Columbia University, New York
Paul Pierson
Affiliation:
University of California, Berkeley
Kathleen Thelen
Affiliation:
Massachusetts Institute of Technology
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Summary

The importance of labor market dynamics to the study of American political development has never been in question. The labor market is, at one and the same time, a point of distribution of economic production, an arena for political interest articulation, and – perhaps most interesting – an allocation of private political power. Of course, there are other markets with these properties (in particular housing and credit), but labor income still predominates the budgets of most of the population, time at work dominates the activity of most working-age adults, and political emotions such as status and dignity clearly owe a great deal to the distribution of power and autonomy at the gates of and inside the “hidden abode of production”

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The American Political Economy
Politics, Markets, and Power
, pp. 295 - 320
Publisher: Cambridge University Press
Print publication year: 2021

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