Professor Jerry Davis adeptly analyzes how capital markets, corporations and employment are intertwined substructures in the US economy and how their interrelationships have changed over time. Post–World War II corporations made capital investment a servant of company growth and stability, producing high-wage occupations. In the 1980s, shareholder value began ruling corporate decision making: Long-term employment eroded as firms moved to outsourcing and then to “labor on demand.” Thus, jobs and corporate missions are at odds today. getAbstract recommends this illuminating exposition to policy makers, business leaders and everyone who has or wants a job.
In this summary, you will learn
- How the American economy has changed since the 1980s,
- Why shareholder value and long-term employment are opposing goals, and
- Why policy makers need to rethink job-growth strategies.
About the Author
Jerry Davis is a professor of management and sociology at the University of Michigan.