F A Hayek - How Unions Cause Unemployment

Professor Hayek shares a subtle and sophisticated understanding on the real world dynamics of labor unions. http://www.LibertyPen.com

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[dubified89]

I'd love to hear what he's saying but I really can't make most of it out. Need captions.

[nerfmyaccount]

There's not really a free market argument against unions. After all, unions are just contracts, and free markets love contracts. Were corporations forced to enter a contract under threat of violence? No, it's a mutual contract negotiated peacefully like all contracts. If you watch the video you'll actually see Hayek concede this point at 3:40

So in reality he is never arguing against collective bargaining, he's really arguing against labor movements that pass anti-capitalist legislation.

[fanat1c]

And executive bonuses are not?

[DREwestcoast]

@nerfmyaccount well with current accreditation agencies in north america(minus right-to-work states) make it so that big unions target any business not syndicated and put pressure on the people working there to require a CBA, and the % needed sometimes is as low as 50% for union accreditation, and then the people pay their cuts to the big union that pushed whatever was negociated on them, and encourage workers to attempt to drain any profit out of the targeted enterprise on averag

[Oddwun]

@1601tgc Your assertion is not borne out by history. For ~125 years from the start of the industrial revolution until the infancy of labor unions workers conditions and pay did not improve. Within 30 years of the rise of unions the middle class was formed and almost all the laws the keep you alive at work were settled. A corporations goal is maximum profit, period. The only thing keeps them from destroying everything in their path for the sake of that profit is regulation and organized workers.

[1601tgc]

@Oddwun the idea is that you will not be doing it for free because their is a limited supply of labour, enterprises will have to start competing for labour and offer incentives to attract employees. These incentives can come in the form of higher wages and better working conditions. No employee these days would employ 10 year olds (disregarding any legal or moral objections) because of the tecnological advances that has made child labour virtually obsolete and costly.

[ARenofHeavens]

@Oddwun That you inferred THAT from the video shows your ignorance.

Before capitalism kids were working as soon as they could lift the milk bucket on the family farm. BRO.

h ttp://mises.org/daily/3553 learn something. You are so wet behind your ears your sarcasm isn't even dry.

[t4705mb6]

Excluding the workers from governance always gives the wealthy what they want - the ability to cut off a "commoners" head ...at will. As long as criminals continue to be in charge of commerce we will experience gross treachery. If humankind could act together for the good, round up and imprison the those responsible for acts AGAINST humanity, we might move forward. According to you, the wicked have the answer to all our problems. I don't think that's true.

[SakakiDash]

@Oddwun Your understanding of chemicals and how unsafe methods would be cheaper is appaling.

The truth is that keeping your employes longer is cheaper, keeping their working enviroment safe will give you a long term benefit. Both in knowledgebase and profit.

When society gets richer young people are keept of the working market and put into education. With out a richer society they will never get educated.

[localhand]

What a joker.