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To: ThirdEye who wrote (19333)	12/23/2004 11:07:54 AM
From: GraceZ	Read Replies (1) \| Respond to of 116555

Not sure how all these statements reconcile Monopoly power granted by the government to either management or labor reduces economic efficiency because it is government sanctioned interference in a free market and is also an open invitation to those who would corrupt that power to their own uses. It is not just my experience and that of my family, labor union history is very clear about the involvement of organized crime and they are far from gone from existing unions. Why is it that the seller of labor is granted this monopoly power to set prices while the various buyers are expressly forbidden to even meet to discuss the price of that labor? Has the government decided that labor is somehow less capable than management at making a deal, so therefore they should get the advantage of collective bargaining? If supply is elastic and demand is elastic, so should price be elastic. Fixing any one of those three things leads you down the path of inefficiency.