In this study, labor economist Henry Schechter concludes that there is a need for greater international prohibitions and for keeping open channels for collective bargaining for higher wages. He presents an analysis of recent changes in the United States and elsewhere, highlighting the spread of automated production technology to lesser developed, low-wage areas of the world, which leads to global demand-supply imbalances and downward pressure on wages. This circumstance, he charges, is aggravated as multinational corporations affiliate with one another, lessening competition and increasing monopolistic influences worldwide.
This work will be of interest to the scholars and policymakers in academia, government, business, and the labor movement concerned with fiscal and labor economic policies.
About the Author:
HENRY SCHECHTER served as Deputy Director of the AFL-CIO Department of Economic Research and as Director of its Office of Housing and Monetary Policy. He has also held positions with the Congressional Research Service, the U.S. Department of Housing and Urban Development, and the Department of Commerce.