This week’s Economic Update features updates on Maine’s progressive economic changes, the documentation by the U.S. Senate on how the wealthiest abuse the estate tax, how Nestle is profiting from water nearby Flint’s crippling water crisis, the effects of poverty and social exclusion in Greece and Europe, the Trump/GOP cuts to health programs and the rise of profits in the U.S. as wage share continues to fall.
SPECIAL TOPIC: the second half of this week’s episode focuses on a major discussion of the economics of migration and the economics of coalitions between labor and unions and worker co-ops.
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Union officials make large salaries relative to those earned by workers. They’re cosseted by the bosses, wined and dined, taken on luxury vacations, and who knows what goes on underneath the bargaining table? What would be their incentive to seek to promote co-operatives that, if successful, would likely undermine their power and take away their privileges?
The evidence for this kind of corruption is plentiful. The UAW recent contract negotiations make a case in point. The leadership out-maneuvered the widespread opposition expressed by the rank and file by using dirty tricks to guarantee that the contract desired by the employers got voted passed.
Perhaps you have more information on this topic that gives you reason to believe that unions would champion co-ops. If so, I hope you will comment on it.