Labor unions

May 25th, 2016
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1. Gilles Saint-Paul explains that labor unions are beneficial in some ways and harmful in other ways 2. Brad DeLong presents a short argument supporting the existence of labor unions. a. Why DeLong supports the existence of labor unions; b. Why DeLong uses a quote from Ronald Reagan to support his position; 3. Explanation of the position that Mark Thoma presents. 4. Hal Varian argues that labor unions have long-term, negative effects on future generations of workers. Explanation of his argument; 5. Argument that supports the existence of labor unions; 6. Argument that is critical of the existence of labor unions;

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Running head: LABOR UNIONS1Labor UnionsStudents NameUniversity AffiliationLABOR UNIONS2Labor Unions1. Gilles Saint-Paul explains that labor unions are beneficial in some ways and harmful in otherways. Below is the summary of his explanation of the costs and benefits associated with theexistence of labor unions;The Costs;Labor unions inefficiently raise the price of some labour categories just as the cartels increase theprices of some goods. In this case, the unemployed and the workers who are in non-unionizedjobs getting lower wages and low living standards become the losers.Labour unions sometimes raise labour costs which further increase the harm done on consumersby the monopoly power of a business. In addition, the prices of goods become too high since theemployees collude.The benefits;Labour unions reduce consumers welfare in general, inclusive of precariously positioned andpoor workers, and also raise the welfare of some certain categories of employees who arerelatively well-off.Labour unions are useful in industries and firms with little market power. This is because therents appropriated by such unions are small and also the incentives of the parties to reachagreements when there is a labour conflict are strong.Whenever the large businesses obtain rents from monopoly power, labour unions often manageto share some of the rents. This is a benefit to the employees of the large businesses who alsoenjoy gre

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