Asked by Jamil Aburoomi on Jun 27, 2024
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The mainstream economic perspective holds that efficiency, equity and voice in the employment relationship are maintained through competitive markets which lead to a fair price where labor is paid equal to the value of its contribution.
Mainstream Economic Perspective
Refers to the dominant school of thought in economics that emphasizes rational choice, market equilibrium, and the beneficial role of free markets in allocating resources efficiently.
Voice
A term in industrial relations referring to the ability of employees to express their opinions, grievances, or suggestions, either individually or collectively, within the workplace.
- Comprehend the mainstream economic perspective on efficiency, equity, and voice in the employment relationship.
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Learning Objectives
- Comprehend the mainstream economic perspective on efficiency, equity, and voice in the employment relationship.
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