Lessons from the labor markets: what to do about class actions and employment discrimination.(LEGISLATION)

Chief Executive (U.S.),  July, 2007  by Epstein, Richard A.

• E-mail
• Print
• Link

In general, most CEOs accept the basic proposition that free competition in both capital and labor markets is the surest road to social prosperity and business success. Speaking in the most general terms, U.S. capital markets (with the notable exception of Sarbanes-Oxley) are freer now than they were 50 years ago.

Labor markets are not. Without question, labor markets were severely compromised by two major 1960s legislative reforms, seemingly unrelated at the time. The first is the expansion of the class action, both in federal and state courts. The second is the ever-greater ...

Read the rest of this article with a Free Trial at HighBeam Research.