The UAW strike demands for labor and hours are non-market dynamics which historically contribute to unemployment, prolong downturns, and can destroy corporate competitiveness.
As a left leaning Libertarian (haha, whatever that is) I generally agree with your assessment of some unions. Some pension systems too are crazy generous (California especially-- I have two friends that worked seven years for the state, retired early, and will likely get payouts for thirty years. How does THAT make any sense?) Costco and WinCo may be better examples of unions/co-op models that are reasonable. Still it's hard to blame folks for wanting more money with high housing, tuition, healthcare, and other costs these days. If the Fed keeps printing money to "fix" things this will keep exacerbating the situation. Though painful, a depression/deflationary event would help reset our maligned trajectory and perhaps sober up unions that expect so much. Don't know how to resolve the deficit but historically I think countries just defaulted and moved on (this would entail a global default of course).
That story of your friends is wild, haha. Pensions used to be such a staple for people, I have family members with great pensions, but nowadays I hear things about how they aren't as funded as they should be which may be an issue and most companies don't offer them. People today don't stay at the same company either, we are motivated to chase higher wages by switching jobs every few years because of inflation.
You can't blame people at all for wanting a raise its natural, as long as the money printer is in the hands of the government, they will need to keep asking for higher wages and often with help from unions, its just a feedback loop that only ends the way you suggest, some kind of default.
Not to be too doom and gloom lol. I appreciate your comment!
As a left leaning Libertarian (haha, whatever that is) I generally agree with your assessment of some unions. Some pension systems too are crazy generous (California especially-- I have two friends that worked seven years for the state, retired early, and will likely get payouts for thirty years. How does THAT make any sense?) Costco and WinCo may be better examples of unions/co-op models that are reasonable. Still it's hard to blame folks for wanting more money with high housing, tuition, healthcare, and other costs these days. If the Fed keeps printing money to "fix" things this will keep exacerbating the situation. Though painful, a depression/deflationary event would help reset our maligned trajectory and perhaps sober up unions that expect so much. Don't know how to resolve the deficit but historically I think countries just defaulted and moved on (this would entail a global default of course).
That story of your friends is wild, haha. Pensions used to be such a staple for people, I have family members with great pensions, but nowadays I hear things about how they aren't as funded as they should be which may be an issue and most companies don't offer them. People today don't stay at the same company either, we are motivated to chase higher wages by switching jobs every few years because of inflation.
You can't blame people at all for wanting a raise its natural, as long as the money printer is in the hands of the government, they will need to keep asking for higher wages and often with help from unions, its just a feedback loop that only ends the way you suggest, some kind of default.
Not to be too doom and gloom lol. I appreciate your comment!