Are career jobs headed for extinction?

California Management Review

Volumn , Issue 1, 1999, Pages 123-145

  Jacoby, Sanford M ^a  

^a NONE

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EID: 0033484864     PISSN: 00081256     EISSN: None     Source Type: Journal    
DOI: 10.2307/41166022     Document Type: Article

References (128)

1. Richard Sennett, The Corrosion of Character: The Personal Consequences of Work in the New Capitalism (New York, NY: Norton, 1998).
2. "Greenspan Says Job Insecurity Still High," Daily Labor Report, 31, February 17, 1999, p. AA-1.
3. Michael J. Mandel, "Economic Anxiety," Business Week, March 11, 1996, pp. 50-56; Alison Mitchell, "Clinton Prods Executives to Do the Right Thing," New York Times, May 17, 1996, p. C-2.
4. Michael J. Mandel, "Economic Anxiety," Business Week, March 11, 1996, pp. 50-56; Alison Mitchell, "Clinton Prods Executives to Do the Right Thing," New York Times, May 17, 1996, p. C-2.
5. Sanford M. Jacoby, Modern Manors: Welfare Capitalism since the New Deal (Princeton, NJ: Princeton University Press, 1997).
6. In manufacturing, job loss rates in the mid-1990s were half the level observed in the early 1980s. Henry S. Farber, "The Changing Face of Job Loss in the United States, 1981-1995," Industrial Relations Section, Princeton University, working paper 382, June 1997; Lori Kletzer, "Job Displacement," Journal of Economic Perspectives, 12 (Winter 1998): 115-136, at 119.
7. In manufacturing, job loss rates in the mid-1990s were half the level observed in the early 1980s. Henry S. Farber, "The Changing Face of Job Loss in the United States, 1981-1995," Industrial Relations Section, Princeton University, working paper 382, June 1997; Lori Kletzer, "Job Displacement," Journal of Economic Perspectives, 12 (Winter 1998): 115-136, at 119.
8. The Conference Board, "Organizing the Corporate HQ: An HR Perspective," HR Executive Review, 6 (1998).
9. Peter Herriot and Carole Pemberton, New Deals: The Revolution in Managerial Careers (New York, NY: John Wiley & Sons, 1995); Peter Cappelli, The New Deal at Work (Boston,. MA: Harvard Business School Press, 1999).
10. Peter Herriot and Carole Pemberton, New Deals: The Revolution in Managerial Careers (New York, NY: John Wiley & Sons, 1995); Peter Cappelli, The New Deal at Work (Boston,. MA: Harvard Business School Press, 1999).
11. Arne Kalleberg, Edith Rasell, Naomi Cassirer, Barbara Reskin, Ken Hudson, David Webster, Eileen Applebaum, and Roberta Spalter-Roth, Nonstandard Work, Substandard Jobs: Flexible Work Arrangements in the U.S. (Washington, D.C.: Economic Policy Institute, 1997), p. 9.
12. Henry S. Farber and Helen Levy, "Recent Trends in Employer-Sponsored Health Insurance Coverage: Are Bad Jobs Getting Worse?" NBER working paper 6709 (August 1998); Kalleberg et al., op. cit., pp. 30-31; Henry S. Farber, "Job Creation in the United States: Good Jobs or Bad?" Industrial Relations Section, Princeton University, working paper 385, July 1997.
13. Henry S. Farber and Helen Levy, "Recent Trends in Employer-Sponsored Health Insurance Coverage: Are Bad Jobs Getting Worse?" NBER working paper 6709 (August 1998); Kalleberg et al., op. cit., pp. 30-31; Henry S. Farber, "Job Creation in the United States: Good Jobs or Bad?" Industrial Relations Section, Princeton University, working paper 385, July 1997.
14. Henry S. Farber and Helen Levy, "Recent Trends in Employer-Sponsored Health Insurance Coverage: Are Bad Jobs Getting Worse?" NBER working paper 6709 (August 1998); Kalleberg et al., op. cit., pp. 30-31; Henry S. Farber, "Job Creation in the United States: Good Jobs or Bad?" Industrial Relations Section, Princeton University, working paper 385, July 1997.
15. Alan Downs, Corporate Executions: The Ugly Truth About Layoffs - How Corporate Greed is Shattering Lives, Companies, and Communities (New York, NY: AMACOM, 1995).
16. Joel Kurtzman, "An Interview with Paul Krugman," Strategy & Business, 13/4 (1998): 87-96, at 88.
17. Steven J. Davis and John Haltiwanger, "Gross Job Creation, Gross Job Destruction, and Employment Reallocation," Quarterly Journal of Economics, 107 (August 1992): 819-863.
18. Francis X. Diebold, David Neumark, and Daniel Polsky, "Job Stability in the United States, Journal of Labor Economics, 15 (1997): 206-233; David Neumark, Daniel Polsky, and Daniel Hansen, "Has Job Stability Declined Yet? New Evidence for the 1990s," paper presented at the Russell Sage Foundation Conference on Changes in Job Stability and Job Security, February 1998.
19. Francis X. Diebold, David Neumark, and Daniel Polsky, "Job Stability in the United States, Journal of Labor Economics, 15 (1997): 206-233; David Neumark, Daniel Polsky, and Daniel Hansen, "Has Job Stability Declined Yet? New Evidence for the 1990s," paper presented at the Russell Sage Foundation Conference on Changes in Job Stability and Job Security, February 1998.
20. Henry S. Farber, "Trends in Long-Term Employment in the United States, 1979-96," Industrial Relations Section, Princeton University, working paper no. 384, July 1997.
21. U.S. Bureau of Labor Statistics, "Employee Tenure in 1998," report 98-387, Washington D.C., 1998. If the analysis is limited to large firms, the evidence of job stability is even more striking. For 51 large companies that were clients of Watson Wyatt, a consulting firm, average tenure increased in the 1990s, as did the percentage of employees with ten years (and twenty years) of service or more. Even in firms with shrinking employment, the odds that a worker would be with the employer five years later were higher than the same odds for the labor market as a whole. Steven G. Allen, Robert L. Clark, and Sylvester J. Schieber, "Has Job Security Vanished in Large Corporations?" NBER working paper no. 6966, 1999.
22. U.S. Bureau of Labor Statistics, "Employee Tenure in 1998," report 98-387, Washington D.C., 1998. If the analysis is limited to large firms, the evidence of job stability is even more striking. For 51 large companies that were clients of Watson Wyatt, a consulting firm, average tenure increased in the 1990s, as did the percentage of employees with ten years (and twenty years) of service or more. Even in firms with shrinking employment, the odds that a worker would be with the employer five years later were higher than the same odds for the labor market as a whole. Steven G. Allen, Robert L. Clark, and Sylvester J. Schieber, "Has Job Security Vanished in Large Corporations?" NBER working paper no. 6966, 1999.
23. Farber, "Changing Face of Job Loss," op. cit.
24. Robert G. Valletta, "Declining Job Security," working paper, Federal Reserve Bank of San Francisco, San Francisco, CA, November 1997.
25. Cynthia Bansak and Steven Raphael, "Have Employment Relationships in the U.S. Become Less Stable?" working paper, Department of Economics, U.C. San Diego, August 1998. Note, however, that when one focuses on tenure rather than separations, older workers do not show larger tenure declines than younger workers. One explanation could be that older workers who have suffered permanent layoff are more inclined to leave the labor market. See Neumark, Polsky, and Hansen, op. cit.
26. Cynthia Bansak and Steven Raphael, "Have Employment Relationships in the U.S. Become Less Stable?" working paper, Department of Economics, U.C. San Diego, August 1998. Note, however, that when one focuses on tenure rather than separations, older workers do not show larger tenure declines than younger workers. One explanation could be that older workers who have suffered permanent layoff are more inclined to leave the labor market. See Neumark, Polsky, and Hansen, op. cit.
27. James T. Bond, Ellen Galinksy, and Jennifer E. Swanberg, The 1997 National Study of the Changing Workforce, Families and Work Institute, New York, NY, 1998, p. 115; Bansak and Raphael, op. cit.
28. James T. Bond, Ellen Galinksy, and Jennifer E. Swanberg, The 1997 National Study of the Changing Workforce, Families and Work Institute, New York, NY, 1998, p. 115; Bansak and Raphael, op. cit.
29. U.S. Bureau of the Census, "Annual Geographic Mobility Rates," July 1998, at www.census.gov/population/socdemo/migration
30. U.S. Bureau of Labor Statistics, op. cit.; Farber, "Trends in Long-Term Employment," op. cit., p. 26.
31. U.S. Bureau of Labor Statistics, op. cit.; Farber, "Trends in Long-Term Employment," op. cit., p. 26.
32. These data are drawn from Compustat listings for U.S.-based companies for the period 1990-1997. Companies whose employment was affected by merger or liquidation were not included in the sample. MCI and Worldcom merged late in 1998.
33. Stuart Silverstein and Davan Maharaj, "Company Layoff Projections Often Don't Add Up," Los Angeles Times, January 17, 1999, p. D-1.
34. Richard B. Freeman, "War of the Models: Which Labour Market Institutions for the 21st Century?" Labour Economics, 5 (1998): 1-24.
35. R.S. Johnson, "Lowe's Borrows the Blueprint," Fortune, November 23, 1998, p. 212+; Sandra Vance and Roy Scott, Wal-Mart: A History of Sam Walton's Retail Phenomenon (New York, NY: Twayne Publishers, 1997); Chris Roush, Inside Home Depot (New York, NY: McGraw-Hill, 1999). One reason companies no longer tout explicit no-layoff policies is the spate of dismissal suits in recent years. Plaintiffs sometimes won by claiming breach of an implied promise to provide continuous employment, such as were found in employee handbooks and other personnel policies. Henry Perritt, Employee Dismissal: Law and Practice (New York, NY: Wiley Law Publications, 1998).
36. R.S. Johnson, "Lowe's Borrows the Blueprint," Fortune, November 23, 1998, p. 212+; Sandra Vance and Roy Scott, Wal-Mart: A History of Sam Walton's Retail Phenomenon (New York, NY: Twayne Publishers, 1997); Chris Roush, Inside Home Depot (New York, NY: McGraw-Hill, 1999). One reason companies no longer tout explicit no-layoff policies is the spate of dismissal suits in recent years. Plaintiffs sometimes won by claiming breach of an implied promise to provide continuous employment, such as were found in employee handbooks and other personnel policies. Henry Perritt, Employee Dismissal: Law and Practice (New York, NY: Wiley Law Publications, 1998).
37. R.S. Johnson, "Lowe's Borrows the Blueprint," Fortune, November 23, 1998, p. 212+; Sandra Vance and Roy Scott, Wal-Mart: A History of Sam Walton's Retail Phenomenon (New York, NY: Twayne Publishers, 1997); Chris Roush, Inside Home Depot (New York, NY: McGraw-Hill, 1999). One reason companies no longer tout explicit no-layoff policies is the spate of dismissal suits in recent years. Plaintiffs sometimes won by claiming breach of an implied promise to provide continuous employment, such as were found in employee handbooks and other personnel policies. Henry Perritt, Employee Dismissal: Law and Practice (New York, NY: Wiley Law Publications, 1998).
38. R.S. Johnson, "Lowe's Borrows the Blueprint," Fortune, November 23, 1998, p. 212+; Sandra Vance and Roy Scott, Wal-Mart: A History of Sam Walton's Retail Phenomenon (New York, NY: Twayne Publishers, 1997); Chris Roush, Inside Home Depot (New York, NY: McGraw-Hill, 1999). One reason companies no longer tout explicit no-layoff policies is the spate of dismissal suits in recent years. Plaintiffs sometimes won by claiming breach of an implied promise to provide continuous employment, such as were found in employee handbooks and other personnel policies. Henry Perritt, Employee Dismissal: Law and Practice (New York, NY: Wiley Law Publications, 1998).
39. Sanford M. Jacoby, Employing Bureaucracy: Managers, Unions, and the Transformation of Work in American Industry, 1900-1945 (New York, NY: Columbia University Press, 1985), pp. 167-170.
40. Michael Bernstein, The Great Depression: Delayed Recovery and Economic Change in America, 1929-39 (Cambridge: Cambridge University Press, 1987).
41. Farber, "Job Creation in the U.S.," op. cit.
42. Sanford M. Jacoby and Peter Goldschmidt, "Education, Skill, and Wage Inequality: The Situation in California," Challenge, 41 (November/December 1998): 88-120.
43. David Autor, "Why Do Temporary Help Firms Provide Free General Skills Training," working paper, Kennedy School of Government, Harvard University, January 1999.
44. Kalleberg, op. cit., p. 9; Lewis M. Segal and Daniel G. Sullivan, "The Growth of Temporary Services Work," Journal of Economic Perspectives, 11 (Spring 1997): 117-136; Gillian Lester, "Careers and Contingency," Stanford Law Review, 51 (November 1998): 73-145.
45. Kalleberg, op. cit., p. 9; Lewis M. Segal and Daniel G. Sullivan, "The Growth of Temporary Services Work," Journal of Economic Perspectives, 11 (Spring 1997): 117-136; Gillian Lester, "Careers and Contingency," Stanford Law Review, 51 (November 1998): 73-145.
46. Kalleberg, op. cit., p. 9; Lewis M. Segal and Daniel G. Sullivan, "The Growth of Temporary Services Work," Journal of Economic Perspectives, 11 (Spring 1997): 117-136; Gillian Lester, "Careers and Contingency," Stanford Law Review, 51 (November 1998): 73-145.
47. U.S. Bureau of Labor Statistics, "Contingent and Alternative Employment Arrangements, February 1997," bulletin 97-422, Washington, D.C., 1997; Henry S. Farber, "Alternative Employment Arrangements as a Response to Job Loss," Industrial Relations Section, Princeton University, working paper 391, October 1997.
48. U.S. Bureau of Labor Statistics, "Contingent and Alternative Employment Arrangements, February 1997," bulletin 97-422, Washington, D.C., 1997; Henry S. Farber, "Alternative Employment Arrangements as a Response to Job Loss," Industrial Relations Section, Princeton University, working paper 391, October 1997.
49. Michal Kalecki, "Political Aspects of Full Employment," in Michal Kalecki, ed., Selected Essays on the Dynamics of the Capitalist Economy, 1933-1970 (Cambridge: Cambridge University Press 1971), pp. 138-145.
50. Alexander Keyssar, Out of Work: The First Century of Unemployment in Massachusetts (Cambridge: Cambridge University Press, 1986). The idea of a market-organization continuum is nicely developed in Ronald Dore, "Where Are We Now? Musings of an Evolutionist," Work, Employment, & Society, 3 (1989): 425-446.
51. Alexander Keyssar, Out of Work: The First Century of Unemployment in Massachusetts (Cambridge: Cambridge University Press, 1986). The idea of a market-organization continuum is nicely developed in Ronald Dore, "Where Are We Now? Musings of an Evolutionist," Work, Employment, & Society, 3 (1989): 425-446.
52. U.S. Bureau of Labor Statistics, "Worker Displacement, 1995-1997," report no. 98-347, August 1998; Gene Koretz, "Downsizing's Impact on Job Losers," Business Week, December 28, 1998, p. 30; Bruce Fallick, "A Review of the Recent Empirical Literature on Displaced Workers," Industrial & Labor Relations Review, 50 (1996): 5-16; Louis Jacobson, Robert LaLonde, and Daniel Sullivan, The Costs of Worker Dislocation (Kalamazoo, MI: W.E. Upjohn Institute of Employment Research, 1993). Over the past two years, the share of workers worried about losing their jobs fell from 44 percent to 37 percent. Charles Manski and John Straub, "Workers Perceptions of Job Insecurity in the Mid-1990s," NBER working paper no. 6908, 1999.
53. U.S. Bureau of Labor Statistics, "Worker Displacement, 1995-1997," report no. 98-347, August 1998; Gene Koretz, "Downsizing's Impact on Job Losers," Business Week, December 28, 1998, p. 30; Bruce Fallick, "A Review of the Recent Empirical Literature on Displaced Workers," Industrial & Labor Relations Review, 50 (1996): 5-16; Louis Jacobson, Robert LaLonde, and Daniel Sullivan, The Costs of Worker Dislocation (Kalamazoo, MI: W.E. Upjohn Institute of Employment Research, 1993). Over the past two years, the share of workers worried about losing their jobs fell from 44 percent to 37 percent. Charles Manski and John Straub, "Workers Perceptions of Job Insecurity in the Mid-1990s," NBER working paper no. 6908, 1999.
54. U.S. Bureau of Labor Statistics, "Worker Displacement, 1995-1997," report no. 98-347, August 1998; Gene Koretz, "Downsizing's Impact on Job Losers," Business Week, December 28, 1998, p. 30; Bruce Fallick, "A Review of the Recent Empirical Literature on Displaced Workers," Industrial & Labor Relations Review, 50 (1996): 5-16; Louis Jacobson, Robert LaLonde, and Daniel Sullivan, The Costs of Worker Dislocation (Kalamazoo, MI: W.E. Upjohn Institute of Employment Research, 1993). Over the past two years, the share of workers worried about losing their jobs fell from 44 percent to 37 percent. Charles Manski and John Straub, "Workers Perceptions of Job Insecurity in the Mid-1990s," NBER working paper no. 6908, 1999.
55. U.S. Bureau of Labor Statistics, "Worker Displacement, 1995-1997," report no. 98-347, August 1998; Gene Koretz, "Downsizing's Impact on Job Losers," Business Week, December 28, 1998, p. 30; Bruce Fallick, "A Review of the Recent Empirical Literature on Displaced Workers," Industrial & Labor Relations Review, 50 (1996): 5-16; Louis Jacobson, Robert LaLonde, and Daniel Sullivan, The Costs of Worker Dislocation (Kalamazoo, MI: W.E. Upjohn Institute of Employment Research, 1993). Over the past two years, the share of workers worried about losing their jobs fell from 44 percent to 37 percent. Charles Manski and John Straub, "Workers Perceptions of Job Insecurity in the Mid-1990s," NBER working paper no. 6908, 1999.
56. U.S. Bureau of Labor Statistics, "Worker Displacement, 1995-1997," report no. 98-347, August 1998; Gene Koretz, "Downsizing's Impact on Job Losers," Business Week, December 28, 1998, p. 30; Bruce Fallick, "A Review of the Recent Empirical Literature on Displaced Workers," Industrial & Labor Relations Review, 50 (1996): 5-16; Louis Jacobson, Robert LaLonde, and Daniel Sullivan, The Costs of Worker Dislocation (Kalamazoo, MI: W.E. Upjohn Institute of Employment Research, 1993). Over the past two years, the share of workers worried about losing their jobs fell from 44 percent to 37 percent. Charles Manski and John Straub, "Workers Perceptions of Job Insecurity in the Mid-1990s," NBER working paper no. 6908, 1999.
57. David M. Gordon, Fat and Mean: The Corporate Squeeze of Working Americans and the Myth of Managerial "Downsizing" (New York, NY: Martin Kessler Books, 1996), pp. 54-55.
58. "We Want You to Stay. Really," Business Week, June 22, 1998, p. 67.
59. Ibid., p. 70; "Employers Find that Tight Economy Requires Use of Creative Recruiting," Daily Labor Report, no. 237, December 10, 1998, pp. C1-C7.
60. Ibid., p. 70; "Employers Find that Tight Economy Requires Use of Creative Recruiting," Daily Labor Report, no. 237, December 10, 1998, pp. C1-C7.
61. Farber and Levy, op. cit., p. 25. Another reason for the decline in the take-up rate (the rate at which employees take benefits offered to them) is the recent rapid growth in tailored benefit plans permitting employees to pick and choose benefits. In 1988, thirteen percent of big companies gave employees this option; now over half do. "Unto Those that Have Shall Be Given," Economist, December 21, 1996, pp. 91-92.
62. Farber and Levy, op. cit., p. 25. Another reason for the decline in the take-up rate (the rate at which employees take benefits offered to them) is the recent rapid growth in tailored benefit plans permitting employees to pick and choose benefits. In 1988, thirteen percent of big companies gave employees this option; now over half do. "Unto Those that Have Shall Be Given," Economist, December 21, 1996, pp. 91-92.
63. David E. Bloom and Richard Freeman, "The Fall in Private Pension Coverage in the U.S.," American Economic Review, 82 (May 1992): 539-545; John Woods, "Pension Coverage Among the Baby Boomers," Social Security Bulletin, 57 (Fall 1994): 12-25; William Even and David MacPherson, "Why Did Male Pension Coverage Decline in the 1980s?" Industrial & Labor Relations Review, 47 (April 1994): 439-453; "Pension Plan Coverage Now Rising," Employee Benefit Plan Review, 48 (April 1994): 41-42; U.S. Bureau of Labor Statistics, "Employee Benefits in Medium and Large Private Establishments," report 99-02, Washington, D.C., 1999, table 11. If employers, in fact, move radically away from provision of retirement benefits, employees would likely respond by saving at higher rates. But despite the recrudescence of market individualism, the U.S. private savings rate has steadily trended down since the early 1980s.
64. David E. Bloom and Richard Freeman, "The Fall in Private Pension Coverage in the U.S.," American Economic Review, 82 (May 1992): 539-545; John Woods, "Pension Coverage Among the Baby Boomers," Social Security Bulletin, 57 (Fall 1994): 12-25; William Even and David MacPherson, "Why Did Male Pension Coverage Decline in the 1980s?" Industrial & Labor Relations Review, 47 (April 1994): 439-453; "Pension Plan Coverage Now Rising," Employee Benefit Plan Review, 48 (April 1994): 41-42; U.S. Bureau of Labor Statistics, "Employee Benefits in Medium and Large Private Establishments," report 99-02, Washington, D.C., 1999, table 11. If employers, in fact, move radically away from provision of retirement benefits, employees would likely respond by saving at higher rates. But despite the recrudescence of market individualism, the U.S. private savings rate has steadily trended down since the early 1980s.
65. David E. Bloom and Richard Freeman, "The Fall in Private Pension Coverage in the U.S.," American Economic Review, 82 (May 1992): 539-545; John Woods, "Pension Coverage Among the Baby Boomers," Social Security Bulletin, 57 (Fall 1994): 12-25; William Even and David MacPherson, "Why Did Male Pension Coverage Decline in the 1980s?" Industrial & Labor Relations Review, 47 (April 1994): 439-453; "Pension Plan Coverage Now Rising," Employee Benefit Plan Review, 48 (April 1994): 41-42; U.S. Bureau of Labor Statistics, "Employee Benefits in Medium and Large Private Establishments," report 99-02, Washington, D.C., 1999, table 11. If employers, in fact, move radically away from provision of retirement benefits, employees would likely respond by saving at higher rates. But despite the recrudescence of market individualism, the U.S. private savings rate has steadily trended down since the early 1980s.
66. David E. Bloom and Richard Freeman, "The Fall in Private Pension Coverage in the U.S.," American Economic Review, 82 (May 1992): 539-545; John Woods, "Pension Coverage Among the Baby Boomers," Social Security Bulletin, 57 (Fall 1994): 12-25; William Even and David MacPherson, "Why Did Male Pension Coverage Decline in the 1980s?" Industrial & Labor Relations Review, 47 (April 1994): 439-453; "Pension Plan Coverage Now Rising," Employee Benefit Plan Review, 48 (April 1994): 41-42; U.S. Bureau of Labor Statistics, "Employee Benefits in Medium and Large Private Establishments," report 99-02, Washington, D.C., 1999, table 11. If employers, in fact, move radically away from provision of retirement benefits, employees would likely respond by saving at higher rates. But despite the recrudescence of market individualism, the U.S. private savings rate has steadily trended down since the early 1980s.
67. David E. Bloom and Richard Freeman, "The Fall in Private Pension Coverage in the U.S.," American Economic Review, 82 (May 1992): 539-545; John Woods, "Pension Coverage Among the Baby Boomers," Social Security Bulletin, 57 (Fall 1994): 12-25; William Even and David MacPherson, "Why Did Male Pension Coverage Decline in the 1980s?" Industrial & Labor Relations Review, 47 (April 1994): 439-453; "Pension Plan Coverage Now Rising," Employee Benefit Plan Review, 48 (April 1994): 41-42; U.S. Bureau of Labor Statistics, "Employee Benefits in Medium and Large Private Establishments," report 99-02, Washington, D.C., 1999, table 11. If employers, in fact, move radically away from provision of retirement benefits, employees would likely respond by saving at higher rates. But despite the recrudescence of market individualism, the U.S. private savings rate has steadily trended down since the early 1980s.
68. Farber and Levy, op. cit.; U.S. Bureau of Labor Statistics, "Benefits in Private Establishments," op. cit., tables 5 and 6.
69. Farber and Levy, op. cit.; U.S. Bureau of Labor Statistics, "Benefits in Private Establishments," op. cit., tables 5 and 6.
70. Ibid., table 11; Kalleberg et al., op. cit., p. 31; "Companies Pledge to Invest $100 Million for Dependent Care," Daily Labor Report, October 4, 1995, p. A-5.
71. Ibid., table 11; Kalleberg et al., op. cit., p. 31; "Companies Pledge to Invest $100 Million for Dependent Care," Daily Labor Report, October 4, 1995, p. A-5.
72. Ibid., table 11; Kalleberg et al., op. cit., p. 31; "Companies Pledge to Invest $100 Million for Dependent Care," Daily Labor Report, October 4, 1995, p. A-5.
73. Marianne Bertrand, "From the Invisible Handshake to the Invisible Hand? How Import Competition Changes the Employment Relationship," NBER working paper no. 6900, 1999; Erica L. Groshen and David I. Levine, "The Rise and Decline (?) of U.S. Internal Labor Markets," Federal Reserve Bank of New York, research paper no. 9819, New York, NY, 1998.
74. Marianne Bertrand, "From the Invisible Handshake to the Invisible Hand? How Import Competition Changes the Employment Relationship," NBER working paper no. 6900, 1999; Erica L. Groshen and David I. Levine, "The Rise and Decline (?) of U.S. Internal Labor Markets," Federal Reserve Bank of New York, research paper no. 9819, New York, NY, 1998.
75. Howard C. Kunreuther, "Limited Knowledge and Insurance Protection," Public Policy, 24 (1976): 227-261; Daniel Kahneman and Amos Tversky, "Prospect Theory: An Analysis of Decision Under Risk," Econometrica, 47 (1979): 263-291.
76. Howard C. Kunreuther, "Limited Knowledge and Insurance Protection," Public Policy, 24 (1976): 227-261; Daniel Kahneman and Amos Tversky, "Prospect Theory: An Analysis of Decision Under Risk," Econometrica, 47 (1979): 263-291.
77. Anthony Sampson, Company Man: The Rise and Fall of Corporate Life (New York, NY: Times Business, Random House, 1995), p. 225.
78. Sanford M. Jacoby, "'Chainsaw Al' Gets His Due," Los Angeles Times, June 18, 1998, p. B-5. Note, however, that the evidence does not support the popular belief that downsizing boosts stock prices and CEO pay. After controlling for factors like firm size, the effect of layoffs on CEO pay is nil and there is a small negative share price reaction to layoff announcements. Kevin Hallock, "Layoffs, Top Executive Pay, and Firm Performance," American Economic Review, 88 (September 1998): 711-723.
79. Sanford M. Jacoby, "'Chainsaw Al' Gets His Due," Los Angeles Times, June 18, 1998, p. B-5. Note, however, that the evidence does not support the popular belief that downsizing boosts stock prices and CEO pay. After controlling for factors like firm size, the effect of layoffs on CEO pay is nil and there is a small negative share price reaction to layoff announcements. Kevin Hallock, "Layoffs, Top Executive Pay, and Firm Performance," American Economic Review, 88 (September 1998): 711-723.
80. David Hackett Fischer, Historians' Fallacies: Toward a Logic of Historical Thought (New York, NY: Harper & Row, 1970); Frederick Hilmer and Lex Donaldson, Management Redeemed: Debunking the Fads that Undermine Our Corporations (New York, NY: Free Press, 1996); Michael B. Arthur and Denise M. Rousseau, "The Boundaryless Career as a New Employment Principle," in Michael B. Arthur and Denise M. Rousseau, eds., The Boundaryless Career: A New Employment Principle for a New Organizational Era (New York, NY: Oxford University Press, 1996), p. 5.
81. David Hackett Fischer, Historians' Fallacies: Toward a Logic of Historical Thought (New York, NY: Harper & Row, 1970); Frederick Hilmer and Lex Donaldson, Management Redeemed: Debunking the Fads that Undermine Our Corporations (New York, NY: Free Press, 1996); Michael B. Arthur and Denise M. Rousseau, "The Boundaryless Career as a New Employment Principle," in Michael B. Arthur and Denise M. Rousseau, eds., The Boundaryless Career: A New Employment Principle for a New Organizational Era (New York, NY: Oxford University Press, 1996), p. 5.
82. David Hackett Fischer, Historians' Fallacies: Toward a Logic of Historical Thought (New York, NY: Harper & Row, 1970); Frederick Hilmer and Lex Donaldson, Management Redeemed: Debunking the Fads that Undermine Our Corporations (New York, NY: Free Press, 1996); Michael B. Arthur and Denise M. Rousseau, "The Boundaryless Career as a New Employment Principle," in Michael B. Arthur and Denise M. Rousseau, eds., The Boundaryless Career: A New Employment Principle for a New Organizational Era (New York, NY: Oxford University Press, 1996), p. 5.
83. John Cassidy, "All Worked Up: Is Downsizing Really News or Is It Business as Usual?" The New Yorker, April 22, 1996, pp. 51-56.
84. Silverstein and Maharaj, op. cit.; Patterson, op. cit.
85. Silverstein and Maharaj, op. cit.; Patterson, op. cit.
86. U.S. Bureau of Labor Statistics, "Benefits in Private Establishments," op. cit., table 7.
87. In medium to large establishments, the proportion of employees with defined-benefit plans fell from 59 to 50 percent between 1991 and 1997; the proportion with defined-contribution plans rose from 48 to 57 percent. Note, however, that some employees are covered by both types of plans and that some of the shifting occurred across rather than within firms due to rapid job growth in smaller, non-union companies that are less likely to offer defined benefit plans. U.S. Bureau of Labor Statistics, "Benefits in Private Establishments," op. cit., table 11. Also, see Richard Ippolito, "Toward Explaining the Growth of Defined Contribution Plans," Industrial Relations, 34 (1995): 1-20; Ellen Benoit, "Penny Wise, Pound Foolish," Treasury and Risk Management, 6 (July/August 1996): 18-27.
88. In medium to large establishments, the proportion of employees with defined-benefit plans fell from 59 to 50 percent between 1991 and 1997; the proportion with defined-contribution plans rose from 48 to 57 percent. Note, however, that some employees are covered by both types of plans and that some of the shifting occurred across rather than within firms due to rapid job growth in smaller, non-union companies that are less likely to offer defined benefit plans. U.S. Bureau of Labor Statistics, "Benefits in Private Establishments," op. cit., table 11. Also, see Richard Ippolito, "Toward Explaining the Growth of Defined Contribution Plans," Industrial Relations, 34 (1995): 1-20; Ellen Benoit, "Penny Wise, Pound Foolish," Treasury and Risk Management, 6 (July/August 1996): 18-27.
89. In medium to large establishments, the proportion of employees with defined-benefit plans fell from 59 to 50 percent between 1991 and 1997; the proportion with defined-contribution plans rose from 48 to 57 percent. Note, however, that some employees are covered by both types of plans and that some of the shifting occurred across rather than within firms due to rapid job growth in smaller, non-union companies that are less likely to offer defined benefit plans. U.S. Bureau of Labor Statistics, "Benefits in Private Establishments," op. cit., table 11. Also, see Richard Ippolito, "Toward Explaining the Growth of Defined Contribution Plans," Industrial Relations, 34 (1995): 1-20; Ellen Benoit, "Penny Wise, Pound Foolish," Treasury and Risk Management, 6 (July/August 1996): 18-27.
90. The head of human resources at IBM, Gerald Czarnecki, characterizes his company's new approach as a "readjustment which needs a new balancing act . . . I never thought it was good for a corporation to take over the role of the family unit, which is more dependable for society. Now the pendulum will swing back, to give a larger role to the family. But there's still a role for all three - family, business, and government." Sampson, op. cit., p. 229.
91. Bond, Galinsky, and Swanberg, op. cit., pp. 76-79; Delorese Ambrose, Healing the Downsized Organization (New York, NY: Harmony Books, 1996). Efficiency wage models relate the probability of job loss to employee effort levels. These models are a microeconomic version of the Kalecki effect. Valletta, op. cit.; Daniel Aaronson and Daniel G. Sullivan, "The Decline of Job Security in the 1990s: Displacement, Anxiety, and their Effect on Wage Growth," Federal Reserve Bank of Chicago, Economic Perspectives, 22/1 (1998): 17-43.
92. Bond, Galinsky, and Swanberg, op. cit., pp. 76-79; Delorese Ambrose, Healing the Downsized Organization (New York, NY: Harmony Books, 1996). Efficiency wage models relate the probability of job loss to employee effort levels. These models are a microeconomic version of the Kalecki effect. Valletta, op. cit.; Daniel Aaronson and Daniel G. Sullivan, "The Decline of Job Security in the 1990s: Displacement, Anxiety, and their Effect on Wage Growth," Federal Reserve Bank of Chicago, Economic Perspectives, 22/1 (1998): 17-43.
93. Bond, Galinsky, and Swanberg, op. cit., pp. 76-79; Delorese Ambrose, Healing the Downsized Organization (New York, NY: Harmony Books, 1996). Efficiency wage models relate the probability of job loss to employee effort levels. These models are a microeconomic version of the Kalecki effect. Valletta, op. cit.; Daniel Aaronson and Daniel G. Sullivan, "The Decline of Job Security in the 1990s: Displacement, Anxiety, and their Effect on Wage Growth," Federal Reserve Bank of Chicago, Economic Perspectives, 22/1 (1998): 17-43.
94. Bond, Galinsky, and Swanberg, op. cit., pp. 76-79; Delorese Ambrose, Healing the Downsized Organization (New York, NY: Harmony Books, 1996). Efficiency wage models relate the probability of job loss to employee effort levels. These models are a microeconomic version of the Kalecki effect. Valletta, op. cit.; Daniel Aaronson and Daniel G. Sullivan, "The Decline of Job Security in the 1990s: Displacement, Anxiety, and their Effect on Wage Growth," Federal Reserve Bank of Chicago, Economic Perspectives, 22/1 (1998): 17-43.
95. Stephen Herzenberg, John Alic, and Howard Wial, New Rules for a New Economy: Employment and Opportunity in Postindustrial America (Ithaca, NY: ILR Press, 1998).
96. Finding and training a replacement typically costs about 55 percent of a departing employee's annual salary. "Can America's Workforce Grow Old Gracefully?" Economist, July 25, 1998, pp. 59-60. For establishments with over fifty employees, 30 percent use self-directed work teams, with a coverage rate (percent of employees affected) of around 12 percent. Christopher Erickson and Sanford Jacoby, "Training and Work Organization Practices of Private Employers in California," California Policy Seminar Report, Berkeley, CA, 1998; Maury Gittleman, Michael Horrigan, and Mary Joyce, "Flexible Workplace Practices: Evidence from a Nationally Representative Survey," Industrial & Labor Relations Review, 52 (October 1998): 99-115.
97. Finding and training a replacement typically costs about 55 percent of a departing employee's annual salary. "Can America's Workforce Grow Old Gracefully?" Economist, July 25, 1998, pp. 59-60. For establishments with over fifty employees, 30 percent use self-directed work teams, with a coverage rate (percent of employees affected) of around 12 percent. Christopher Erickson and Sanford Jacoby, "Training and Work Organization Practices of Private Employers in California," California Policy Seminar Report, Berkeley, CA, 1998; Maury Gittleman, Michael Horrigan, and Mary Joyce, "Flexible Workplace Practices: Evidence from a Nationally Representative Survey," Industrial & Labor Relations Review, 52 (October 1998): 99-115.
98. Finding and training a replacement typically costs about 55 percent of a departing employee's annual salary. "Can America's Workforce Grow Old Gracefully?" Economist, July 25, 1998, pp. 59-60. For establishments with over fifty employees, 30 percent use self-directed work teams, with a coverage rate (percent of employees affected) of around 12 percent. Christopher Erickson and Sanford Jacoby, "Training and Work Organization Practices of Private Employers in California," California Policy Seminar Report, Berkeley, CA, 1998; Maury Gittleman, Michael Horrigan, and Mary Joyce, "Flexible Workplace Practices: Evidence from a Nationally Representative Survey," Industrial & Labor Relations Review, 52 (October 1998): 99-115.
99. David I. Levine, Reinventing the Workplace: How Employees and Business Can Both Win (Washington, D.C.: Brookings Institution, 1995); U.S. Department of Labor, ""Report on High Performance Work Practices and Firm Performance," July 26, 1993, reprinted in Daily Labor Report, no. 143, July 28, 1993, p. F1-F12; James Rebitzer, "Job Safety and Contract Workers in the U.S. Petrochemical Industry," Industrial Relations, 34 (January 1995): 40-57; Jeffrey Pfeffer, The Human Equation: Building Profits by Putting People First (Boston, MA: Harvard Business School Press, 1998). For some contrary evidence on the profitability of a low-road approach, see Thomas Bailey and Annette Bernhardt, "In Search of the High Road in a Low-Wage Industry," Politics and Society, 25 (June 1997): 179-201.
100. David I. Levine, Reinventing the Workplace: How Employees and Business Can Both Win (Washington, D.C.: Brookings Institution, 1995); U.S. Department of Labor, ""Report on High Performance Work Practices and Firm Performance," July 26, 1993, reprinted in Daily Labor Report, no. 143, July 28, 1993, p. F1-F12; James Rebitzer, "Job Safety and Contract Workers in the U.S. Petrochemical Industry," Industrial Relations, 34 (January 1995): 40-57; Jeffrey Pfeffer, The Human Equation: Building Profits by Putting People First (Boston, MA: Harvard Business School Press, 1998). For some contrary evidence on the profitability of a low-road approach, see Thomas Bailey and Annette Bernhardt, "In Search of the High Road in a Low-Wage Industry," Politics and Society, 25 (June 1997): 179-201.
101. David I. Levine, Reinventing the Workplace: How Employees and Business Can Both Win (Washington, D.C.: Brookings Institution, 1995); U.S. Department of Labor, ""Report on High Performance Work Practices and Firm Performance," July 26, 1993, reprinted in Daily Labor Report, no. 143, July 28, 1993, p. F1-F12; James Rebitzer, "Job Safety and Contract Workers in the U.S. Petrochemical Industry," Industrial Relations, 34 (January 1995): 40-57; Jeffrey Pfeffer, The Human Equation: Building Profits by Putting People First (Boston, MA: Harvard Business School Press, 1998). For some contrary evidence on the profitability of a low-road approach, see Thomas Bailey and Annette Bernhardt, "In Search of the High Road in a Low-Wage Industry," Politics and Society, 25 (June 1997): 179-201.
102. David I. Levine, Reinventing the Workplace: How Employees and Business Can Both Win (Washington, D.C.: Brookings Institution, 1995); U.S. Department of Labor, ""Report on High Performance Work Practices and Firm Performance," July 26, 1993, reprinted in Daily Labor Report, no. 143, July 28, 1993, p. F1-F12; James Rebitzer, "Job Safety and Contract Workers in the U.S. Petrochemical Industry," Industrial Relations, 34 (January 1995): 40-57; Jeffrey Pfeffer, The Human Equation: Building Profits by Putting People First (Boston, MA: Harvard Business School Press, 1998). For some contrary evidence on the profitability of a low-road approach, see Thomas Bailey and Annette Bernhardt, "In Search of the High Road in a Low-Wage Industry," Politics and Society, 25 (June 1997): 179-201.
103. David I. Levine, Reinventing the Workplace: How Employees and Business Can Both Win (Washington, D.C.: Brookings Institution, 1995); U.S. Department of Labor, ""Report on High Performance Work Practices and Firm Performance," July 26, 1993, reprinted in Daily Labor Report, no. 143, July 28, 1993, p. F1-F12; James Rebitzer, "Job Safety and Contract Workers in the U.S. Petrochemical Industry," Industrial Relations, 34 (January 1995): 40-57; Jeffrey Pfeffer, The Human Equation: Building Profits by Putting People First (Boston, MA: Harvard Business School Press, 1998). For some contrary evidence on the profitability of a low-road approach, see Thomas Bailey and Annette Bernhardt, "In Search of the High Road in a Low-Wage Industry," Politics and Society, 25 (June 1997): 179-201.
104. David I. Levine, Reinventing the Workplace: How Employees and Business Can Both Win (Washington, D.C.: Brookings Institution, 1995); U.S. Department of Labor, ""Report on High Performance Work Practices and Firm Performance," July 26, 1993, reprinted in Daily Labor Report, no. 143, July 28, 1993, p. F1-F12; James Rebitzer, "Job Safety and Contract Workers in the U.S. Petrochemical Industry," Industrial Relations, 34 (January 1995): 40-57; Jeffrey Pfeffer, The Human Equation: Building Profits by Putting People First (Boston, MA: Harvard Business School Press, 1998). For some contrary evidence on the profitability of a low-road approach, see Thomas Bailey and Annette Bernhardt, "In Search of the High Road in a Low-Wage Industry," Politics and Society, 25 (June 1997): 179-201.
105. Christopher A. Bartlett and Sumantra Ghoshal, The Individualized Corporation: A Fundamentally New Approach to Management (New York, NY: HarperBusiness, 1997).
106. Candace Jones, "Careers in Project Networks: The Case of the Film Industry," in Michael B. Arthur and Denise M. Rousseau, eds., The Boundaryless Career: A New Employment Principle for a New Organizational Era (New York, NY: Oxford University Press, 1996), pp. 58-78; Annalee Saxenian, Regional Advantage: Culture and Competition in Silicon Valley and Route 128 (Cambridge, MA: Harvard University Press, 1996). In fact, most of the employment growth in California is concentrated in jobs that do not require a college education. Within Silicon Valley during the boom of 1991-1997, real incomes for the poorest 20 percent of the Valley's households fell by 8 percent. Jacoby and Goldschmidt, op. cit.; David Friedman, "The Dark Side of the High-Tech Religion," Los Angeles Times, January 31, 1999, p. M-1.
107. Candace Jones, "Careers in Project Networks: The Case of the Film Industry," in Michael B. Arthur and Denise M. Rousseau, eds., The Boundaryless Career: A New Employment Principle for a New Organizational Era (New York, NY: Oxford University Press, 1996), pp. 58-78; Annalee Saxenian, Regional Advantage: Culture and Competition in Silicon Valley and Route 128 (Cambridge, MA: Harvard University Press, 1996). In fact, most of the employment growth in California is concentrated in jobs that do not require a college education. Within Silicon Valley during the boom of 1991-1997, real incomes for the poorest 20 percent of the Valley's households fell by 8 percent. Jacoby and Goldschmidt, op. cit.; David Friedman, "The Dark Side of the High-Tech Religion," Los Angeles Times, January 31, 1999, p. M-1.
108. Candace Jones, "Careers in Project Networks: The Case of the Film Industry," in Michael B. Arthur and Denise M. Rousseau, eds., The Boundaryless Career: A New Employment Principle for a New Organizational Era (New York, NY: Oxford University Press, 1996), pp. 58-78; Annalee Saxenian, Regional Advantage: Culture and Competition in Silicon Valley and Route 128 (Cambridge, MA: Harvard University Press, 1996). In fact, most of the employment growth in California is concentrated in jobs that do not require a college education. Within Silicon Valley during the boom of 1991-1997, real incomes for the poorest 20 percent of the Valley's households fell by 8 percent. Jacoby and Goldschmidt, op. cit.; David Friedman, "The Dark Side of the High-Tech Religion," Los Angeles Times, January 31, 1999, p. M-1.
109. Candace Jones, "Careers in Project Networks: The Case of the Film Industry," in Michael B. Arthur and Denise M. Rousseau, eds., The Boundaryless Career: A New Employment Principle for a New Organizational Era (New York, NY: Oxford University Press, 1996), pp. 58-78; Annalee Saxenian, Regional Advantage: Culture and Competition in Silicon Valley and Route 128 (Cambridge, MA: Harvard University Press, 1996). In fact, most of the employment growth in California is concentrated in jobs that do not require a college education. Within Silicon Valley during the boom of 1991-1997, real incomes for the poorest 20 percent of the Valley's households fell by 8 percent. Jacoby and Goldschmidt, op. cit.; David Friedman, "The Dark Side of the High-Tech Religion," Los Angeles Times, January 31, 1999, p. M-1.
110. Frances Frei, Patrick Harker, and Larry Hunter, "Performance in Consumer Financial Services Organizations," working paper 95-03, Wharton Financial Institutions Center, University of Pennsylvania, Philadelphia, 1995. For a similar argument by the head of Bain & Company, see Frederick F. Reichheld, The Loyalty Effect: The Hidden Force Behind Growth, Profits, and Lasting Value (Boston, MA: Harvard Business School Press, 1996). Although he does not remark upon it, Reichheld's case studies come from service industries that are the employment-growth sectors of the U.S economy: financial services, retail sales, insurance, and eating establishments.
111. Frances Frei, Patrick Harker, and Larry Hunter, "Performance in Consumer Financial Services Organizations," working paper 95-03, Wharton Financial Institutions Center, University of Pennsylvania, Philadelphia, 1995. For a similar argument by the head of Bain & Company, see Frederick F. Reichheld, The Loyalty Effect: The Hidden Force Behind Growth, Profits, and Lasting Value (Boston, MA: Harvard Business School Press, 1996). Although he does not remark upon it, Reichheld's case studies come from service industries that are the employment-growth sectors of the U.S economy: financial services, retail sales, insurance, and eating establishments.
112. Martha Groves, "In Tight Job Market, Software Firm Develops Programs to Keep Employees," Los Angeles Times, June 14, 1998, p. D-5; "Overworked and Overpaid," Economist, January 30, 1999, pp. 55-56.
113. Martha Groves, "In Tight Job Market, Software Firm Develops Programs to Keep Employees," Los Angeles Times, June 14, 1998, p. D-5; "Overworked and Overpaid," Economist, January 30, 1999, pp. 55-56.
114. "Can America's Workforce Grow Old Gracefully?" Economist, July 25, 1998, 59-60; U.S. Bureau of Labor Statistics, "Worker Displacement, 1995-1997," op. cit.
115. "Can America's Workforce Grow Old Gracefully?" Economist, July 25, 1998, 59-60; U.S. Bureau of Labor Statistics, "Worker Displacement, 1995-1997," op. cit.
116. A study of managerial downsizing in British companies reaches similar conclusions. It finds "no evidence of the kind of transformational change associated with the introduction of a new model. Instead, we find that the traditional model of managerial employment has been eroded rather than replaced." Patrick McGovern, Veronica Hope-Hailey, and Philip Stiles, "The Managerial Career After Downsizing: Case Studies from the 'Leading Edge,'" Work, Employment, & Society, 13 (September 1998): 457.
117. Elizabeth Chambers, Mark Foulon, Helen Handfield-Jones, Steven Hankin, and Edward Michaels, "The War for Talent," McKinsey Quarterly, 3 (1998): 44-57.
118. Albert O. Hirschman, The Rhetoric of Reaction (Cambridge, MA: Belknap Press, 1991).
119. Morton Horwitz, The Transformation of American Law, 1780-1860 (Cambridge, MA: Harvard University Press, 1979).
120. Steven K. Vogel, Freer Markets, More Rules: Regulatory Reform in Advanced Industrial Countries (Ithaca, NY: Cornell University Press, 1996).
121. Paul C. Weiler, Governing the Workplace: The Future of Labor and Employment Law (Cambridge, MA: Harvard University Press, 1990); Reicheld, op. cit., p. 182.
122. Paul C. Weiler, Governing the Workplace: The Future of Labor and Employment Law (Cambridge, MA: Harvard University Press, 1990); Reicheld, op. cit., p. 182.
123. Alan Wolfe, One Nation, After All (New York, NY: Viking, 1998), p. 237.
124. Lawrence Mishel, Jared Bernstein, and John Schmitt, The State of Working America, 1998-99 (Ithaca, NY: ILS Press, 1999), pp. 367-373.
125. Fallick, op. cit.; David R. Howell, "Institutional Failure and the American Worker: The Collapse of Low-Skill Wages," Jerome Levy Economics Institute, Bard College, Public Policy Brief no. 29, 1997. Cutting the tenure data at over ten, rather than over twenty years, does give college graduates an edge over high-school dropouts in the percentage holding long-term jobs. But this advantage also existed twenty years ago, before wage inequality had grown wide. Farber, "Trends in Long-Term Employment," op. cit., p. 29; Diebold, Neumark, and Polsky, op. cit., p. 223.
126. Fallick, op. cit.; David R. Howell, "Institutional Failure and the American Worker: The Collapse of Low-Skill Wages," Jerome Levy Economics Institute, Bard College, Public Policy Brief no. 29, 1997. Cutting the tenure data at over ten, rather than over twenty years, does give college graduates an edge over high-school dropouts in the percentage holding long-term jobs. But this advantage also existed twenty years ago, before wage inequality had grown wide. Farber, "Trends in Long-Term Employment," op. cit., p. 29; Diebold, Neumark, and Polsky, op. cit., p. 223.
127. Fallick, op. cit.; David R. Howell, "Institutional Failure and the American Worker: The Collapse of Low-Skill Wages," Jerome Levy Economics Institute, Bard College, Public Policy Brief no. 29, 1997. Cutting the tenure data at over ten, rather than over twenty years, does give college graduates an edge over high-school dropouts in the percentage holding long-term jobs. But this advantage also existed twenty years ago, before wage inequality had grown wide. Farber, "Trends in Long-Term Employment," op. cit., p. 29; Diebold, Neumark, and Polsky, op. cit., p. 223.
128. Fallick, op. cit.; David R. Howell, "Institutional Failure and the American Worker: The Collapse of Low-Skill Wages," Jerome Levy Economics Institute, Bard College, Public Policy Brief no. 29, 1997. Cutting the tenure data at over ten, rather than over twenty years, does give college graduates an