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Tripartite wage boards—under the FLSA, old state statutes like New York’s, and successors like the California FAST Act—might be precursors of sectoral bargaining, but they are not examples of it. They do not involve bargaining and do not reflect the parties’ respective bargaining power. Rather, they are examples of sectoral co-regulation, and they sit at the center of the grid sketched above. As a mode of standard setting, co-regulation straddles collective bargaining and conventional regulation; while sectoral standards split the difference between enterprise-based and jurisdiction-wide standards. As I’ll argue in the next Part, sectoral co-regulation has some advantages over both collective bargaining and conventional regulation, and over both enterprise-based and jurisdiction-wide standards.

This may be the case, but corporations are going to fight tooth and nail for anything that benefits the working class.