How can four schools of thought on the labor problem from Chapter 2 be useful to considering options to regulating globalization to limit short term costs and problems associated with exploitation?

Question

What will be an ideal response?

Answer 1

The alternatives to govern the global workplace parallel the alternatives for workplace governance (i.e., the four schools of thought on industrial relations). First, the free market argument suggests that no regulations are necessary and that, left to its own devices, the free market will determine the optimal outcomes for producers, consumers, and workers. Second, a human resource management perspective would suggest that corporate self-monitoring is the best approach. This position would advocate the adoption of corporate codes of conduct and the spread of best human resource management practices. Third, an industrial relations perspective would suggest that what is needed is a strong labor movement worldwide. This perspective would advocate a mix of laws protecting worker rights to unionization and protective labor legislation. Finally, the critical industrial relations perspective would suggest that none of these methods will be successful and that the only solution is worker control over factors of production, perhaps starting with a strong socialistic labor movement worldwide.