Final answer:
Interest-based bargaining is a key concept involving labor unions negotiating better wages, hours, and working conditions on behalf of their members. Representing workers collectively, labor unions use collective bargaining and, when necessary, strikes to advance their agendas. The development of these unions is deeply rooted in the industrial and legal history of the U.S.
Step-by-step explanation:
Interest-based bargaining is a negotiating strategy used by labor unions to achieve goals for their members. This term applies to collective efforts aimed at bettering the conditions of the workplace, such as securing improvements in wages, hours, job security, and overall working conditions. It is a part of the broader functions of labor organizations which include negotiating with employers on various terms of employment.
A labor union operates in a manner akin to a monopoly within the labor market as it represents all workers collectively, changing the balance of power between employers and workers. Collective bargaining, a pivotal tool of labor unions, is a process where union representatives and company management engage in negotiations to arrive at mutually agreeable terms and conditions of employment. Sometimes, when there is an impasse, unions may use strikes—organized cessation of work—as leverage to attain their objectives.
The formation and operation of labour unions are closely tied to the history of the labor movement in the United States, which largely developed in response to the changing working conditions during the Industrial Revolution. Post the legalization of the labour movement during the Great Depression, labor laws were established to afford workers the legal rights to form unions, engage in collective bargaining, and strike, subject to various legal restrictions.