Labor market influenced by corporate employment practices from "summary" of The New Industrial State by John Kenneth Galbraith
The structure of the modern industrial system is such that the labor market is significantly shaped and controlled by the employment practices of large corporations. These corporations have a dominant position in the economy, which gives them immense power and influence over the labor market. Corporations have the ability to set wages, benefits, and working conditions for their employees, which in turn affects the overall labor market. Their decisions on hiring, firing, and promotions have a ripple effect on the employment practices of other firms as well. Additionally, corporations have the resour...
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