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Labour 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 gro.... Part 2 of Paper
....ly 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.
Numerous studies.... |
| Number of words: 605 - Approximate pages: 3 |
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