The US market-driven labor system -- When markets drive outcomes -- Distribution matters -- Why Americans work and work -- Where have all the unions gone-- long time passing? -- Regulating the unregulated market -- Management in the driver's seat -- The great doubling: is your job going to...

The paper documents the large cross-country differences in labor institutions that make them a candidate explanatory factor for the divergent economic performance of countries and reviews what economists have learned about the effects of these institutions on economic outcomes. It identifies...