The industrial relations school of thought rests on the assumption that labor market outcomes are determined by:

Question

Quizplus · Accepted Answer

The industrial relations school of thought emphasizes the significance of collective bargaining and the relative bargaining strength of employers and workers in determining labor market outcomes. While supply and demand factors do play a role in the setting of wages and employment levels, this approach highlights the power dynamics between the parties involved in the employment relationship as a crucial determinant of outcomes. While government intervention and worker actions can also influence employment outcomes, they are not the central focus of this school of thought.

The Industrial Relations School of Thought Rests on the Assumption