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Describes, in particular, the experience resulting from the successful 1989-1991 campaign for a shorter working week by the Confederation of Shipbuilding and Engineering Unions.
The relationship between the number of hours worked and productivity has long fascinated economists and management. It is a central component of the production function that translates inputs to outputs. While increasing the number of hours someone works may increase output, this incisive book demonstrates that there are diminishing returns to long working hours. John H. Pencavel provides an overview of how the length of working hours evolved from the 19th century to today and how the number of working hours affects work performance and other outcomes, including health, well-being, and wages. Diminishing Returns at Work provides a brief history of working hours both in the United States and Britain, including the influence of trade unions pushing for shorter hours of work, the tension with employers who resisted reducing hours, and the influence of legislation and custom. Pencavel discusses various conceptual frameworks for specifying production functions that measure the relationship between inputs and outputs and develops an alternative approach to estimate actual relationships through a reevaluation of classic studies, including the productivity of munitions workers in Britain during the First and Second World Wars and plywood mills in Washington during the 1980s among others. The declining effectiveness of long hours is manifested not only in marketable output but also in a rising probability of ill-health and accidents, and evidence of this has been found both for blue-collar workers and for white-collar workers. In short, shorter hours of work might benefit both firms and workers.
Structured in three parts, Economics of Fatigue and Unrest is as relevant today for the study of industrial relations and human resource management as when it was first published. It contains chapters on the following: * The growth of technical efficiency * The theory of fatigue and unrest * The costs of industrial inefficiency * The loss by staff turnover * The loss by absence * The loss by industrial accidents and ill-health
This reference provides an overview of relevant literature to engineers, managers, accountants, occupational health and safety specialists, and industrial hygienists, so that they, and other professionals, can understand what has caused our workplaces to become primary sources of physical and mental illness.
Designed as a textbook for undergraduate students of Economics and Commerce (Pass and Hons.), this uptodate book provides a comprehensive coverage of Microeconomics and systematically analyzes all the important topics. The book is also intended for students appearing in Indian Civil Services (IAS), Indian Economic Service (IES) and various State Civil Services examinations. The text is based on the model UGC syllabus and the chapters confirm to the UGC modules, which will greatly benefit the students. The authors present a masterly analysis of important topics such as the role of price mechanism and market equilibrium, factor pricing, and the concept of social welfare functions. The text emphasizes some of the current topics, for example, international financial environment, globalization, market failure and externality, public goods and rational expectation hypothesis. Key Features: • The book contains both numerical and logical questions at the end of each chapter. • Each chapter is followed by a list of major concepts and their brief elaborations. • Charts and diagrams have been frequently used to complement textual analysis. • Some numerical problems are worked out on important topics.
Publishes in-depth articles on labor subjects, current labor statistics, information about current labor contracts, and book reviews.
A reduction in the legal workweek may induce a degree of downward wage flexibility, while an employment subsidy to firms accommodates downward wage rigidity. It may be possible, therefore, to increase employment with a policy that combines a reduction in the workweek with an employment subsidy. In general, however, the long-run employment outcome is ambiguous, and a decline in output cannot be ruled out. More direct policy measures whose impact can be assessed with greater certainty—in particular, removing structural rigidities in the labor market—should be given priority to decrease long term unemployment.
Including international comparative analysis alongside national case studies, this volume offers a wealth of information on the new trends which have emerged over the past decades - all of which were discussed at the recent 9th International Symposium on Working Time, Paris (2004). It looks at the increasing use of results-based employment relationships for managers and professionals, and the increasing fragmentation of time to more closely tailor staffing needs to customer requirements (e.g., short-hours, part-time work). Moreover, as operating/opening hours rapidly expand toward a 24-hour and 7-day economy, the book considers how this has resulted in a growing diversification, decentralization, and individualization of working hours, as well as an increasing tension between enterprises' business requirements and workers' needs and preferences regarding their hours. This new reality has raised some other challenging issues as well and the volume addresses those such as increasing employment insecurity and instability, time-related social inequalities, particularly in relation to gender, workers' ability to balance their paid work with their personal lives, and even the synchronization of working hours with social times, such as community activities.
Microeconomics in Context lays out the principles of microeconomics in a manner that is thorough, up to date, and relevant to students. Like its counterpart, Macroeconomics in Context, the book is uniquely attuned to economic realities. The "in Context" books offer affordability, accessible presentation, and engaging coverage of current policy issues from economic inequality and global climate change to taxes. Key features include: --Clear explanation of basic concepts and analytical tools, with advanced models presented in optional chapter appendices; --Presentation of policy issues in historical, institutional, social, political, and ethical context--an approach that fosters critical evaluation of the standard microeconomic models, such as welfare analysis, labor markets, and market competition; --A powerful graphical presentation of various measures of well-being in the United States, from income inequality and educational attainment to home prices; --Broad definition of well-being using both traditional economic metrics and factors such as environmental quality, health, equity, and political inclusion; --New chapters on the economics of the environment, taxes and tax policy, common property and public goods, and welfare analysis; --Expanded coverage of high-interest topics such as behavioral economics, labor markets, and healthcare; --Full complement of instructor and student support materials online, including test banks and grading through Canvas.
Working time is a crucial issue for both research and public policy. This book presents the first comprehensive analysis of both paid and unpaid work time, integrating a unique discussion of overwork, underwork, shortening of the working week, and flexible work practices. Time at work is affected by a complex web of evolving culture and social relations, as well as market, technological, and macroeconomic forces, and institutions such as collective bargaining and government policy. Using a variety of new data sources, the authors review the latest trends on working time in numerous countries.