Solidarism

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A system of labor arrangement in which labor unions and capitalists jointly set wages below market clearing levels. From this arrangement, labor receives full employment and wage leveling, while capitalists pay less for labor, and do not have to worry about their employees being "poached" by firms who can offer more. This arrangement is traditionally enforced through employer organizations. The arrangement is destabilized during economic booms, when firms cheat on the system and surreptitiously raise "compensation," rather than pay, in the form of increased benefits, safety, or other forms of indirect payment. Present in Sweden.


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