Jump to ContentJump to Main Navigation
The Contract of Employment$
Users without a subscription are not able to see the full content.

Mark Freedland, Alan Bogg, David Cabrelli, Hugh Collins, Nicola Countouris, A.C.L. Davies, Simon Deakin, and Jeremias Prassl

Print publication date: 2016

Print ISBN-13: 9780198783169

Published to Oxford Scholarship Online: August 2016

DOI: 10.1093/acprof:oso/9780198783169.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 20 October 2020

The Contract of Employment, Corporate Law, and Labour Income

The Contract of Employment, Corporate Law, and Labour Income

(p.253) 12 The Contract of Employment, Corporate Law, and Labour Income
The Contract of Employment

Wanjiru Njoya

Oxford University Press

This chapter examines the role played by the contract of employment in wage distribution and income inequality, distinguishing between the ordinary entitlement to ‘labour income’ and the finance-derived entitlement to ‘capital income’ linked to share value. The chapter aims to expose the interplay between contract and status in the quantification of income, a differentiation that may be seen as a reinvention of the old divides associated with the master-servant regime. Senior corporate managers, as quasi-partners in the firm, are able to access the residual profit of the firm through bonuses and stock options while most employees are entitled only to a fixed-rate wage. The chapter draws upon insights from corporate law to theorize not only the inequalities between different kinds of employment status but also the way in which those inequalities have been masked by a habit of regarding the contract of employment as a basically homogenous contract-type.

Keywords:   Wage distribution, income inequality, employment status, corporate law, labour income, capital income

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .