At present, every advanced industrialization economy in the world is capitalist--production and employment are primarily carried out through the private investment decisions of profit-seeking firms and individuals. Yet, the institutional organizations of these economies vary immensely, with significantly divergent consequences for macro-economic outcomes. Broadly, these institutional variations encompass employer-labor relations and the provision of benefits outside the labor market through the welfare state. From the perspective of the analysis of capitalist class interests, restrictions on their relationship with employees and institutions that cushion current or potential employees from the competitive rigor of the labor market should seem to be anathema to capitalists, and yet institutions that do precisely that have survived, despite strains, for several decades in Europe.
Does this mean there are in fact situations in which employers' have a positive interest in institutions that improve the bargaining position for workers if they also increase productivity?
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