Unions blew the bell curve on pay vs value.
Look, this nonsense of "lower pay fewer benefits" is the old pro-labor mantra. There isn't a single union boss who looked at a firm's balance sheet to see what percentage of their gross revenue could or better, should be spent on labor. All the union people cared about is how much they got paid and creating work rules to preserve employment for their members.
The bottom line is this. In business, an employees value to the company is proportional to the ability of that employee to help the business turn a profit.
Businesses DO NOT operate to hire employees. The first priority of a business is to create a positive return on investment for the owners and the investors. Period.
Over the years, buisnesses came to the realization that they no longer had to bend over and grab their ankles every time the union contract came up for negotiation.
In the last 50 years, union membership in the private sector has decreased from over 30% to the present 7%. Gee, I wonder why.
So why is our economy in the toilet? Was the private sector so strapped for capital that it couldn't manage to keep their heads above water? And puleeze don't start yammering about all the regulations and taxes. With the exception of the brand new finance reform measure, those regulations and taxes have been the same for a decade. AND most of the same companies enjoyed booming success in the 90's when they paid MORE in taxes. Go figure.
What does this have to do with unions?
Stay on point.
Umm wake up maggie mae....
The US has been losing mfg to foreign countries for over 30 years.
Steel, textiles, furniture. You name it. So what is the purpose of your insipid rant?
Protectionist legislation combined with combative tariffs?
Yes, one who supports the notion of multiculturalism( All libs are multiculturalists) ......Until the other cultures become successful and recruit business from the US...
Oh and to answer you question there, cupcake The economy sucks because the federal government got involved and interfered with the marketplace. It interfered in the housing market in particular.
The feds, told the banks they had to lend unqualified borrowers the money to buy homes. These people singed up to pay for loans they could not afford.
but Ah HA!! The government invented fannie and freddie, told the banks that their money was in good hands. The government's.
The borrowers begasn to default. First nothing out of the norm. Then as news spread of banks having trouble staying afloat surfaced the defaults spread like wildfire. Peopl were walking asway form himes, the economy tanked and here we are. All because certain do-gooders working for the federal governemnt decided to screw with the marketplace.
Every time. Every single time the fovernment sticks it's nose in the business of business bad things happen.