2.1 What Made the Old Social Contract Work and Why did It Break Down?

2 The Old Social Contract

Video: Week 2 Introduction

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Cornell Professor of Human Resource Studies, Lee Dyer, discusses the key competencies and skills needed for the future workplace.

Video: Careers and Competencies with Professor Lee Dyer

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Last week, in his introductory video, Professor Kochan introduced the “Personal Development Corner,” which will be a section of the course focused on education, professional development, and career planning.

In this week’s video, Professor Kochan talks about the importance of early childhood education. Research suggests that early education is very important, but, unfortunately, not enough young people receive it!

Video: Early Childhood Education for All

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Around the World

In the last two videos, we talked about the post-war social contract in the United States, its history in the post-war period, and the state of the social contract today. Here, we explore how other countries have approached the social contract at work, both historically and currently, through different institutions and policies.

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There are conspicuous challenges for today’s economy but, in some ways, we’ve actually been here before! As we stressed last week, it helps to take a historical perspective in order to understand the current state of the economy and the challenges that we collectively face. In the video below, Professor Kochan examines a series of historical events, including rising wealth inequality in the 1920s and the Great Depression, that remain highly relevant today.

Video: The New Deal at Work

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Attentiveness Question 1

Michael Thompson close

Marie Curie close

Frances Perkins check

Carrie Lynchpin close

Attentiveness Question 2

Unemployment Insurance close

Fair Labor Standards Act close

Capital Gains Taxation check

Social Security close

Attentiveness Question 3

Secured paid maternity leave for women in the workforce. close

Established a minimum wage. close

Provided temporary assistance for workers who become unemployed. close

Promised workers the right to organize into unions. check

Wages and productivity rose in tandem during the post WWII period, resulting in strong businesses and a high standard of living for many Americans. Professor Kochan introduced this so called “Post-War Social Contract” at the end of last week. Why did it work so well for so many? He elaborates on this history, and what it means for our future, in the video below.

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Attentiveness Question

Pent up demand for new homes and consumer goods check

High pay disparities between management and workers close

Government spending on infrastructure, including roads close

Pattern bargaining and wage norms check

Strong pay incentives that encouraged workers to work harder close

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Shaping the Future of Work (15.662x)