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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: axial who wrote (108733)2/23/2010 4:09:36 AM
From: John Metcalf2 Recommendations  Read Replies (1) of 116555
 
"There is a lawful prescription for excessive agreements: negotiation. There is a lawful prescription for inefficient labor that you can't fire: negotiation, and changes to the contract."

In regard to private sector unions, negotiation applies. In regard to public unions, contracts have been set in law, and are (rightfully) enforced by courts. If a public employee union declines to negotiate, there is no recourse because any court will enforce its written contract, affordable or not.

Mish has made this point many times, in many ways, and has given many examples. With no way out, Mish has advocated governmental unit bankruptcy as the only way to deal with union intransigence and tax-payer poverty. Can you suggest any other way the impasse will be broken?
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