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Politics : Formerly About Advanced Micro Devices
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To: Broken_Clock who wrote (840830)3/5/2015 10:47:11 PM
From: i-node  Read Replies (2) of 1575021
 
"How is that possible if unions kill jobs?"

"You must recognize, that the only way in which any group of workers, through union organization, can increase the amount of its pay, is to make sure that there are fewer jobs available. There is no way in which the union can simultaneously increase the number of jobs and the pay. The law of demand in economics is inescapable. You can't get out of it. Raise the price of anything, and fewer people will want to buy it. Make labor more expensive in any area -- make carpenters more expensive, the number of jobs available for carpenters will be less. Make physicians more expensive, the number of jobs available for physicians will be less. Make airline pilots more expensive, the number of jobs available for airline pilots will be fewer." . . . "other people who might be perfectly competent and available are denied those jobs . . . The effect of higher pay for unions is lower pay for all other workers." -- Milton Friedman, the greatest economic in recent times.
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