Essay Archive - Labor Unions
Labor Unions
Since the foundation of the American Federation of Labor(AFL) in 1886, most
unions in the United States have displayed a pragmatic out look, largely
compatible with that of business. The general purpose of unions has been
to protect and advance the well being of workers, while that of business
has been to promote the interests of stockholders. Higher wages and higher
profits are compatible over the long run in a growing economy. Conflict
does arise, however, from the fact that in the short run higher wages for
workers imply lower profits for sharehold....
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