Baran and Sweezy (1968, p85) argue that "the working class as a whole is (not) in a position to encroach on surplus ... under monopoly capitalism employers can and do pass on higher labour costs in the form of higher prices". In Section 2 I examine this claim that employers' power in product...

In general we expect efficient bargaining between a union and an employer to cover employment as well as wages. But employers may find that they win higher profits if they bargain over wages alone, since the threat of job losses can inhibit workers from pressing wage demands. This is shown to be...