One thought on “What are the economic implications of union wage bargaining for workers, firms, and society?

  1. Arti says:

    National Institute of Economic and Social Research, UK National Institute of Economic and Social Research, UK Instead, he said, they simply
    took the credit for what would have happened anyway. Instead, he said, they simply
    took the credit for what would have happened anyway. However, toward
    the end of the 20th century a consensus emerged that unions did
    affect wages [1], [3]. Adam Smith in 1776
    and Fleeming Jenkin in 1868 believed unions did raise wages, but
    Milton Friedman in 1950 thought they had little effect, because they
    could not affect the supply of labor. There is a long-standing debate as to
    whether unions have any effect at all on wages.

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