Friday, November 14, 2008
Crappy Union Jobs
Unionization, in the long run, makes for a terrible way to be employed. A non-senior union employee has much to fear because they know they are not going to find a replacement job similar pay. The reason is simple - in a competitive labor market those very high wages are bid down by the party seeking the job. Most people don't want to lose their job, but losing it is not the end of the world because they are paid MARKET wages. They will find a replacement job with a substantially similar wage. The union employee, in an industry such as the auto industry, has very much to fear indeed.
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