Unfortunately this means that power differentials between employer/employee will be highly exploitable.
Should people be allowed to sign contracts to enter into slavery? How about two criminals entering a voluntary contract to never betray each other. Would testifying against a criminal partner then be a compensatable contract breach?
Current US law says no. If two parties have unequal leverage (you need a job to survive, the company does not need you) there is an implicit structural coercion. That suggests it's not possible for two parties to actually "voluntarily" enter an agreement, as one is being coerced by bills/kids/health insurance, without an equal balance on the other side of the scale.
Should people be allowed to sign contracts to enter into slavery? How about two criminals entering a voluntary contract to never betray each other. Would testifying against a criminal partner then be a compensatable contract breach?
Current US law says no. If two parties have unequal leverage (you need a job to survive, the company does not need you) there is an implicit structural coercion. That suggests it's not possible for two parties to actually "voluntarily" enter an agreement, as one is being coerced by bills/kids/health insurance, without an equal balance on the other side of the scale.