The Labour Market

Used literature 10
Introduction
In the labour market, as well as in other markets, participants strive to achieve the best possible results for themselves. This means that owners and stockholders want to keep wages low. For their part, employees of course have the opposite wish; for them the thing is to get as high a pay as possible for their work effort.
In the long run adjustments in this market take place in the same way as in other markets; both the individual enterprise and the individual employee must on the whole accept the existing prices (here: wages) and adapt to this situation as well as possible. Determination of wages in market economy largely takes place through negotiations between employees’ and employers’ organizations.
Karl Marx envisaged the powerful employer standing before a “reserve army” of workers. Then he could pick and choose among the best and reject the others. Competition between workers for jobs would force wages down and set the workers against one another.
However, today’s labour market in the industrialized countries looks quite different.
Labour Unions are Established
Even before the turn of the century, workers had become organized in labour unions. Even today it is an important task for organized workers to persuade their non-union comrades to join the union. More members will increase the strength of the union in negotiations with the employer regarding the wage rates and other working conditions.
Some time after the labour union movement had grown forth, employers also organized themselves in employers’ associations.
Employees’ demands have two aims: a safe job and high wages. These two demands may come into conflict with one another.
Strikes and lockouts
In order to force employers to give in to their demands, labour unions can threaten to strike. In many cases the threat will be enough. However, now and then a strike will be break out,...

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