The Impact of Changing Corporate Strategies on Communities, Unions, and Workers in the United States of America

The Impact of Changing Corporate Strategies on Communities, Unions, and Workers in the United... CHANGING CORPORATE STRATEGIES IN THE UNITED STATES OF AMERICA 1. Corporate power and institutional responses Corporate strategies reflect corporate structure, conduct, and performance. Currently corporate structure is becoming more consolidated and global, corporate conduct more focused on rising share prices, and corporate performance more profitable. The strategies that result give priority to structural mergers and acquisitions, operating mobility, and production cost minimization. These trends make labour and communities insecure, unstable, and poorer, as corporations abandon long-term commitments to and investments in their traditional workforces and locations. In America today real wages are falling, jobs are becoming more contingent and without health and pension benefits, median family incomes are declining, and income inequality is rising.1 And communities are finding it harder to provide infrastructure, public places, good schools, and safe neighbourhoods. The modern business corporation arguably has enjoyed economic and political hegemony in the United States since its inception in the early part of the last century; to be precise, you might say, since Tom Scott wrested control of the Pennsylvania Railroad from its shareholders in the 1870s.2 During and after the American Civil War big business flourished, in large measure thanks to generous government subsidies coupled with a http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Law and Society Wiley

The Impact of Changing Corporate Strategies on Communities, Unions, and Workers in the United States of America

Journal of Law and Society, Volume 24 (1) – Mar 1, 1997

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Publisher
Wiley
Copyright
Blackwell Publishers Ltd 1997
ISSN
0263-323X
eISSN
1467-6478
DOI
10.1111/1467-6478.00034
Publisher site
See Article on Publisher Site

Abstract

CHANGING CORPORATE STRATEGIES IN THE UNITED STATES OF AMERICA 1. Corporate power and institutional responses Corporate strategies reflect corporate structure, conduct, and performance. Currently corporate structure is becoming more consolidated and global, corporate conduct more focused on rising share prices, and corporate performance more profitable. The strategies that result give priority to structural mergers and acquisitions, operating mobility, and production cost minimization. These trends make labour and communities insecure, unstable, and poorer, as corporations abandon long-term commitments to and investments in their traditional workforces and locations. In America today real wages are falling, jobs are becoming more contingent and without health and pension benefits, median family incomes are declining, and income inequality is rising.1 And communities are finding it harder to provide infrastructure, public places, good schools, and safe neighbourhoods. The modern business corporation arguably has enjoyed economic and political hegemony in the United States since its inception in the early part of the last century; to be precise, you might say, since Tom Scott wrested control of the Pennsylvania Railroad from its shareholders in the 1870s.2 During and after the American Civil War big business flourished, in large measure thanks to generous government subsidies coupled with a

Journal

Journal of Law and SocietyWiley

Published: Mar 1, 1997

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