10 Ways Unions Hurt the Economy
2. They Benefit Few, Hurt Many
When cartels freeze other workers out of jobs by using political pull to establish labor monopolies it hurts the economy. More unemployed people means more people drawing from government aid. Less workers in a particular company or industry means higher wages, which creates higher prices for consumers. While goods and services increase in price, employment falls, leaving many in need of charity or even welfare. Too many are left out of work and unable to be productive as the special group of unionized workers gets rewarded with better wages and benefits. Which is how the unions are able to get support from their members, after all they’re the ones getting the benefits of this protectionist racket.
