Definition
It covers wages, benefits, hours, safety, discipline, and other employment terms.
Political Dictionary
Collective Bargaining
Collective bargaining is negotiation between an employer and workers represented as a group.
Why It Matters
It gives workers a coordinated voice and creates enforceable labor agreements.
How It Works
Union and management representatives exchange proposals and negotiate a contract.
History
Collective bargaining expanded with labor movements and twentieth-century labor law.
Example
A union and company agree on a three-year wage schedule.
Common Misconceptions
- Collective bargaining always results in a strike.
- Individual workers negotiate separately during the process.
- Government sets every contract term.
Related Terms
- Fiscal Policy
- Monetary Policy
- Inflation
- Economic Growth
- Government Spending
Related Topics
See Also