Unions at Risk

By: Ian Campbell | Tue, Aug 14, 2012
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Why read: Because globalization is a game-changer for developed country unions and unionized workers, and this is something worth focusing on and thinking about whether you participate in the financial markets or not.

Commentary: 'In the day', as people now say, unions had much more power, particularly in manufacturing industries, than they do today. Where a manufacturing plant was entirely dependant on its local labour force, a union could enable workers in that plant in many instances to realize higher wages and benefits than they otherwise might have without unionization. In the globalized world we now live in, at least some of that 'union negotiating strength' is diminished. This is particularly true where:

Unionized employees in service businesses that are local in nature, and can't be so influenced by off-shore labour rates - such as trades-people (carpenters, electricians, plumbers, etc.) - clearly are more protected, and hence are better able to conduct 'business as usual' in an ever more globalized world economy.

This is something to consider if you have not already done that.

Topical Reference: Caterpillar to unions: Drop dead, from The Washington Post, Steven Pearlstein, August 4, 2012 - reading time 4 minutes.

 


 

Ian Campbell

Author: Ian Campbell

Ian R. Campbell, FCA, FCBV
Economic Straight Talk

Through the Economic Straight Talk Newsletter Ian R. Campbell shares his perspective on the world economy, the financial markets, and natural resources. A recognized business valuation authority, he founded Toronto based Campbell Valuation Partners (1976), Stock Research Portal (2007) a source of resource companies market data and analytic tools, and Economic Straight Talk (2012). The CICBV* annually funds business valuation research in his name**. Contact him at icampbell@srddi.com.
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