Skip to Main Content
Shaping the Future of Work
book

Shaping the Future of Work

by Thomas A. Kochan
December 2015
Intermediate to advanced content levelIntermediate to advanced
150 pages
4h 49m
English
Business Expert Press
Content preview from Shaping the Future of Work

CHAPTER 3

What Changed in the 1980s and After?

The 1980s will be recorded by economic historians as the decade the postwar social contract broke down. A look back at Figure 1.3 shows this vividly. Wages have flatlined since then. Nothing has yet replaced the broken social contract.

Triggering Events

Three events converged at the beginning of the 1980s that broke the inertia in the labor-management relations of the 1970s.

   1.  The country replaced Jimmy Carter, a Democrat, with Ronald Reagan, a conservative Republican.

   2.  The economy fell into a deep recession in large part induced by Paul Volcker, a strong-minded chair of the Federal Reserve Bank who single-handedly took up the task of breaking the back of inflation, even if it meant breaking ...

Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Start your free trial

You might also like

BUILT FOR GROWTH Expanding Your Business Around the Corner or Across the Globe

BUILT FOR GROWTH Expanding Your Business Around the Corner or Across the Globe

Arthur Rubinfeld, Collins Hemingway
Woo, Wow, and Win

Woo, Wow, and Win

Thomas A. Stewart, Patricia O'Connell

Publisher Resources

ISBN: 9781631574023