ABSTRACT
In Chapter 6, we examined the operation o f the labor markets as they would exist in a perfectly competitive market system. In this chapter, we look at the departures from that model, our labor markets as they actually exist. We look at the changing nature o f work and the normative results for workers. Special attention is paid to unions and how collective bargain ing, in contrast to demand and supply under perfect competition, deter mines wages and conditions o f employment.
