Economics Nobelist Paul Krugman ("Wisconsin Power Play", New York Times column) writes the same thing as my previous post on labor unions. Next, additional two questions (beyond the "other mechanism" question already posed).
Is it worth the cost? How would you measure the economic benefit of avoiding plutocracy?
From the unions' perspective, how do you responsibly wield the power you've been given, to try to avoid costly distortion in the labor market?
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