Shaping the Future of Work (15.662x)

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

• « Video: The New Deal at Work
• 2.1.1Video: Week 2 Introduction
• 2.1.2Video: The New Deal at Work
• 2.1.3Video: The Post-War Social Contract
• 2.1.4Video: PDC: Early Childhood Education for All
• 2.1.5Video: Social Contracts, Past and Present
• 2.1.6Video: Careers and Competencies with Professor Lee Dyer
• » Video: PDC: Early Childhood Education for All

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. 

Video: The Post War Social Contract

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

Check

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