YYV_146
Well-known
Yeah, Victor, the 'quagmire' that once was known as a decent life. Since you want to use personal experience as a credential, I did live through those times, and things were much better for the US middle class. Jobs were relatively plentiful, education meant something, one salary could support a family.
Things went downhill in the 80's when people with your ideology started to get the upper hand.
Randy
I'm not arguing against union power per se, but the kind of industry protection seen in the auto and agriculture industry. Unions are good, but when governments help them overpower firms, there are going to be plenty of problems.
Soberly, I'd argue that this was inevitable for the US anyways - a nation only has so long when it's competitive compared to the rest of the world. The US is already way past that peak, and China is also on the wrong side of the slope. In a few years we'll see jobs leak to even lower-income regions, Africa and Central/Southeast Asia being prime examples. I say this as someone with a decade of formal training in economics.
I don't have any "ideology" in this at all - the definition of being a good economist involves not taking your own biases into the argument. It's a sad reality, I know, but that's what it is.
True...labour unions have a proven track record of improving living standards, raising widespread income levels and improving education and health levels -- trickle-down and tax cuts most certainly do NOT.
Trickle-down theory is flat out stupid. Tax cuts actually have merit, but have to be for the right taxes and implemented at the right time to properly work. Unions are necessary, but neither monopolies nor monopsonies are good for the economy. In theory unions exactly the size of firms work best, but that is almost never the case in real life...