Pulsar
Diamond Member
Unions staged a strike last week in Detroit at the fast food franchises. It seems they want $15 / hour or more for all positions.
This is a perfect example of unions run amuck. A unskilled job that can be filled by even the dumbest joe smoe is not necessarily one that should provide a living wage.
It's similar to the arguments about minimum wage. IF you raise the minimum raise, you see a corresponding raise in spending. Simple supply and demand, because you'll see a corresponding raise in prices too. Suddenly you're back where you started in terms of buying power but you've created inflation that lowers of value of everyone's money (especially pseudo-static savings accounts for things like retirement).
The case sited in the OP seams to be very similar. U.S. legal schools have been turning out lawyers at a rate far surprassing the need. That's been going on for some time. Again, this is a simple case of supply and demand. Management has realized that with a glut on the market, lawyers and all legal equivalents have become a commodity that can be made more efficient through price reductions.
In a situation where you went into a profession that was already grossly overstaffed, or simply are not a good enough lawyer to stand out from the crowd, it should come as no surprise that you aren't going to command good wages.
I approve of unions. I don't approve of unions trying to protect people who are mediocre or who have made poor decisions.
Mark my words - the health care industry is next. The nurses have already been slammed over the last 5-10 years, and doctors and the hospital administrators will be next. In 10-15 years, hospitals with marble entry ways, giant fountains, and expensive paintings on the walls as you walk in are going to be in for a world of hurt.
This is a perfect example of unions run amuck. A unskilled job that can be filled by even the dumbest joe smoe is not necessarily one that should provide a living wage.
It's similar to the arguments about minimum wage. IF you raise the minimum raise, you see a corresponding raise in spending. Simple supply and demand, because you'll see a corresponding raise in prices too. Suddenly you're back where you started in terms of buying power but you've created inflation that lowers of value of everyone's money (especially pseudo-static savings accounts for things like retirement).
The case sited in the OP seams to be very similar. U.S. legal schools have been turning out lawyers at a rate far surprassing the need. That's been going on for some time. Again, this is a simple case of supply and demand. Management has realized that with a glut on the market, lawyers and all legal equivalents have become a commodity that can be made more efficient through price reductions.
In a situation where you went into a profession that was already grossly overstaffed, or simply are not a good enough lawyer to stand out from the crowd, it should come as no surprise that you aren't going to command good wages.
I approve of unions. I don't approve of unions trying to protect people who are mediocre or who have made poor decisions.
Mark my words - the health care industry is next. The nurses have already been slammed over the last 5-10 years, and doctors and the hospital administrators will be next. In 10-15 years, hospitals with marble entry ways, giant fountains, and expensive paintings on the walls as you walk in are going to be in for a world of hurt.
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