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Labor Unions
Part 1 of Paper
....ates have displayed a pragmatic out look, largely
compatible with that of business. The general purpose of unions has been
to protect and advance the well being of workers, while that of business
has been to promote the interests of stockholders. Higher wages and higher
profits are compatible over the long run in a g.... Part 2 of Paper
....rate only a small increase in the
price of the product. Third, the supply of factors that can be used as
substitutes for union labor, such as nonunion labor or labor-saving
machinery, should be inelastic, so that their price rises substantially as
more units are employed. Fourth, the ability of these factors to
substitute for union labor should be highly limited; it would be hard to
substitute for workers with very high skil! ls or skills that are highly
specific to a single employer.
Numerou.... |
| Number of words: 604 - Approximate pages: 3 |
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