Labor Unions
Beginning of paper
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 ....
Middle of paper
.... strength of a union depended upon four factors.
First, demand for the product should be inelastic, so that there is little,
if any, decline in sales in response to price increases. Second, labor
costs should be a small portion of the total costs of production, so that a
rather large increase in wages would generate only a small increase in the
price of the product. Third, the supply of factors that can be used as
substitutes for union labor, such as nonunion labor or labor-saving
machinery, s ....
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Word count: 604
Page count: 3 (approximately 250 words per page)
