'Postmodern' manors: welfare capitalism at the end of the century.

Sanford M. Jacoby's Modern Manors thesis posits the role of welfare capitalism in 20th century labor relations. Welfare capitalism urges corporations to deter union-organizing activity by offering employees security in employment, sickness, and old age in return for undivided loyalty. By the 1990s, the two-sided nature of welfare capitalism was apparent: paternalistic in good times, stringent in bad. Jacoby's analysis provides a basis for mitigating the harsher features of paternalism.