According to the industrial relations school, market imperfections create a significant imbalance of power to the point that employers can exercise a vast degree of control and influence over their employees.

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The industrial relations school believes that market imperfections such as unequal bargaining power, information asymmetry, and externalities create a significant power imbalance between employers and employees, which allows employers to exercise a vast degree of control and influence over their employees.

According to the Industrial Relations School, Market Imperfections Create a Significant