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National Pay Agreements

  • 26-01-2009 5:44pm
    #1
    leninbenjamin
    Closed Accounts Posts: 8,983 ✭✭✭


    what with ICTU in the news again rejecting yet another pay deferral (can they can even justify that, what with us going through a deflationary period and all?) but it got me thinking as to what people's opinions are on the whole thing from an economic perspective?

    back in the days of doing the undergrad i heard plenty differing opinions on it meself, some hailing this kind of thing as one of the more important foundations for the Celtic Tiger, other's lambasting it as having been disproven time and time again in mainland Europe and how we should abandon it, that it stifles productivity and growth... and here i'm still stuck in the middle trying to find the rationality behind either argument...


Comments

  • #2
    MG
    Closed Accounts Posts: 823 ✭✭✭MG


    I think there is a place for it but it really only works when the participants have congruent goals or at least differing goals which complement each other. In the early days of pay agreements back in the late 80s and early 90s this was probably true - everyone gained from modest wage rises in return for lowering taxes, productivity and industrial peace with a background of high taxes, high unemployment and low productivity.

    However, there reaches a point in any such agreement where goals are no longer so easily complementary and marginal returns from an agreement have diminished. I think that is the point we are at now.


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