Collective bargaining in the era of financialization : option paradigm in the case of automatic renewal of collective agreements
This paper presents the impact of financialization upon collective bargaining, the main social relation between the trade union’s strategy and the business model of the company. From an analogy between the financial theory of the option and the collective bargaining’s process, we show the implications on employment’s security and labor relations in establishments from the case study of complex Jonquière d’Alcan. Financialization should not be interpreted as an «externality» of the economic system, but instead as a new form of regulation. This research thus illustrates the performativity of financial theory on labor and collective bargaining.