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I. ESSAY ONE - Collective Bargaining is essential component in any industrial democracy.
"Labor market" can be defined as the mechanism in which workers compete for jobs and employers compete for workers. In a labor market, wages, benefits and responsibilities of workers are bought and sold. Unlike traditional markets however, labor is not a good that can be differentiated by conventional rules of supply and demand. While workers are the suppliers and employers are the buyers, overall supply cannot be manufactured as people only have a limited amount of time in a day. Additionally, companies are strong and can often directly manipulate the market by setting strict labor rules, triggering potential reductions in any supply side scarcity. A single employee is defenseless within this complicated environment. To balance the employment relationship, the National Labor Relations Act allows workers to unite. Through the formation of a union, workers can create resources and seek......

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Approximate Word Count: 3514
Approximate Pages: 15 (250 words per double-spaced page)

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