THE ECONOMICS OF UNIONS

THE ECONOMICS OF UNIONS A union is a type of cartel. Like any cartel, a union is a group of sellers acting together in the hope of exerting their joint market power. Most workers in the US. economy discuss their wages, benefits, and working conditions with their...

UNIONS AND COLLECTIVE BARGAINING

UNIONS AND COLLECTIVE BARGAINING A union is a worker association that bargains with employers over wages, benefits, and working conditions. Whereas only 13 percent of US. workers now belong to unions, unions played a much larger role .in the US. labor market in the...

MINIMUM WAGE LAWS

MINIMUM WAGE LAWS Having seen how frictional unemployment results from the process of matching workers and jobs, let’s now examine how structural unemployment results when the number of jobs is insufficient for the number of workers’ To understand...

UNEMPLOYMENT INSURANCE

UNEMPLOYMENT INSURANCE One government program that increases the amount of frictional unemployment, without intending to do so, is unemployment insurance. This program is designed to offer workers partial protection against job loss. The unemployed who quit their...

German Unemployment

German Unemployment Traditionally, many European countries have had unemployment insurance that is far more generous than that offered to U.s. workers. But some are starting to rethink that...