https://padlet.com/153003612/7k082mksp0i5 Made with magic en-us 2018-11-01 15:26:56 UTC 2025-10-21 10:30:16 UTC hello@padlet.com 153003612 https://padlet.com/153003612/7k082mksp0i5/wish/299426555 - It's an organization that seeks to increase the wages and improve the working conditions of its members.]]> 2018-11-01 15:35:15 UTC https://padlet.com/153003612/7k082mksp0i5/wish/299426555 153003612 https://padlet.com/153003612/7k082mksp0i5/wish/299426817 - They try to increase the demand for the product it produces.
- This leads to an increase in demand for their labor, thereby increasing their wage rate.
- ex: advertising campaigns]]> 2018-11-01 15:35:46 UTC https://padlet.com/153003612/7k082mksp0i5/wish/299426817 153003612 https://padlet.com/153003612/7k082mksp0i5/wish/299427599 - They try to decrease the labor supply because the lower the supply, the higher the wage rate.

- closed shop:
It is an organization that hires only union members, which kept the supply of workers low. It's now illegal by Congress's 1947 Taft-Harley Act.

- union shop:
It's an organization that requires employees to join the union within a certain time period after being hired. This allows the labor union to gain greater control over and better organization of the supply of labor. It's legal in many states.

- strike:
It's a work stoppage called by union members to put pressure on an employer.

- right-to-work laws:
These make it illegal to require union membership for the purpose of employment (no union shops!). This has been passed in 24 states.]]> 2018-11-01 15:37:09 UTC https://padlet.com/153003612/7k082mksp0i5/wish/299427599 153003612 https://padlet.com/153003612/7k082mksp0i5/wish/299427975 - 2010: Mean weekly earnings for union workers were 21% higher than for nonunion workers.
- When labor unions have strikes or bargain up their wage rate, businesses don't employ as many people, so a few union workers are fired.]]> 2018-11-01 15:37:51 UTC https://padlet.com/153003612/7k082mksp0i5/wish/299427975 153003612 https://padlet.com/153003612/7k082mksp0i5/wish/299428032 - Union workers who get fired seek jobs in the nonunion part of the economy.
- This is an increase in supply of nonunion workers, which leads to a decrease in nonunion wage rates.]]> 2018-11-01 15:37:57 UTC https://padlet.com/153003612/7k082mksp0i5/wish/299428032 153003612 https://padlet.com/153003612/7k082mksp0i5/wish/299428470 - Labor unions are an obstacle to establishing reasonable works standards.
- Companies that employ union labor are less competitive because of this.
- This means they are more likely to go out of business.]]> 2018-11-01 15:38:45 UTC https://padlet.com/153003612/7k082mksp0i5/wish/299428470 153003612 https://padlet.com/153003612/7k082mksp0i5/wish/299428547 - The labor union is a valuable collective voice for its members.
- They have a higher rate of productivity than nonunion firms.
- Labor unions make employees feel more confident, less intimidated, and more secure in their work.
- Without a labor union, workers who don't love their job feel taken advantage of by their employers, leading to job exiting.
- This means more costs for the firm (training, unemployment).]]> 2018-11-01 15:38:51 UTC https://padlet.com/153003612/7k082mksp0i5/wish/299428547 153003612 https://padlet.com/153003612/7k082mksp0i5/wish/299428880 - It regulates issues such as hiring practices and safety regulations.
- examples:
The Occupational Safety and Health Administration protects workers from job-related injuries and illnesses.
The Consumer Product Safety Commission specifies minimum standards for potentially unsafe products (like unsafe toys).
The Environmental Protection Agency regulates the amount of pollution that firms can emit.
- controversal:
Some say that it is too costly to taxpayers.
Others say that even though costs are high, benefits are higher.]]> 2018-11-01 15:39:21 UTC https://padlet.com/153003612/7k082mksp0i5/wish/299428880 153003612 https://padlet.com/153003612/7k082mksp0i5/wish/299429304 - Benefits:
Generally, regulation is done in mind of the people. Requirements are put in place to keep the world as clean and safe as possible.
- Costs:
Regulations usually mean higher production costs, which lead to production of fewer units and consequently, job loss for some people.]]> 2018-11-01 15:40:05 UTC https://padlet.com/153003612/7k082mksp0i5/wish/299429304 153003612 https://padlet.com/153003612/7k082mksp0i5/wish/299429439 - Like many events, the government must keep in mind the possible unintended consequences of their regulations.
- example:
The government imposes a higher fuel standard on cars, with the idea that if companies have to produce cars with better mileage, people will not need to buy/burn as much gasoline, leading to less pollution.

Unintended Effect:
Since the cost of per mile traveling will fall, people travel more (going out on leisure drives, road trips, etc.). This means that any gasoline saving that occurrs from the higher fuel economy standards might be offset or outweighed, thus instead leading to more pollution.]]> 2018-11-01 15:40:19 UTC https://padlet.com/153003612/7k082mksp0i5/wish/299429439