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Cambridge Journal of Economics 28:21-36 (2004)
Cambridge Journal of Economics, Vol. 28, No. 1, © Cambridge Political Economy Society 2004; all rights reserved

The economic case for international labour standards

Thomas I. Palley*

Address for correspondence: Open Society Institute, 1120 19th Street NW, Washington, DC 20036, USA; email: tpalley{at}osi-dc.org

JEL classifications: O19, J38, J58, F02

This paper explores the economic case for international labour standards. Granting workers rights of free association and collective bargaining confers both static and dynamic economic efficiencies. Static efficiencies refer to one-time gains from improvements in economic practice. Dynamic efficiencies refer to gains from improvements to the growth path resulting from a shift away from a ‘low road’ development path to a ‘high road’ path. These efficiencies raise wages, employment and output in developing countries, and they can also benefit workers in developed countries. Labour standards are an institutional mechanism for raising the quality of growth in both developing and developed countries. In this sense, they are a ‘win–win’ institution.

Key Words: Core labour standards • Free association • Collective bargaining • Economic growth

Manuscript received April 2, 1999; final version received October 23, 2001.


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