Thursday, February 5, 2009

on unions and OPEC

From comments I made recently on another blog...

What is a cartel? (Try to come up with a definition before reading on.) It is a collusion among suppliers of a product or service. OPEC is a group of nations who supply oil. Unions are groups of workers who supply labor services. Cartels are great for the suppliers and tough on the consumers of their goods and services. So, BY DEFINITION, unions and OPEC are similar.

As to effect, I can agree with you that a cartel of middle-class and upper-middle-class individuals is not as troubling or powerful as a cartel of nations. But unions do take things one step further by advocating all sorts of legislation that impose costs on specific groups of workers and on society.

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