10.2190/QUEL-QFY0-DT3Y-90DL QUELQFY0DT3Y90DL 197 THE INDIVIDUAL EMPLOYEE IN THE CONTEXT OF EMPLOYER ASCENDANCY: NEW-OLD ECONOMIC ANALYSIS 197 213 20040216 20040216 20040216 20040216 QUELQFY0DT3Y90DL.pdf http://baywood.metapress.com/link.asp?target=contribution&id=QUELQFY0DT3Y90DL 3 DANIEL J. B. MITCHELL CHRISTOPHER L. ERICKSON University of California, Los Angeles Through the 1930s, the notion of an inequality of bargaining power between employer and employee provided a rationale for collective bargaining, partly on macroeconomic grounds. More recent economic thinking suggests that in nonunion employment situations, employers will have monopsonistic power, and various aspects of labor-market performance since the 1980s suggest monopsony is present in the workplace. With unions in decline, employer ascendancy in determining wages and conditions of work increasingly provides a rationale for regulating the employment relationship. In the context of employer ascendancy, employee preferences will be underweighted in the employment relationship. Legislative proposals, enactments, and litigation are being considered to re-balance the relationship.