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Monopsonistic Labor Market

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Improved working conditions. Job Security. Types of Unions ... Wage increase over equilibrium. Only union members hired/ Inclusive Unions ... – PowerPoint PPT presentation

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Title: Monopsonistic Labor Market


1
Monopsonistic Labor Market
  • And the effects of unions on labor markets

2
(No Transcript)
3
Labor Union Basics
4
Purpose of Labor Unions
  • Allow higher pay.
  • Better Hours.
  • Improved working conditions.
  • Job Security.

5
Types of Unions
  • Craft/Trade Unions American Federation of Labor
    (AFL) 1886
  • Industrial Unions Congress of Industrial
    Organizations (CIO) 1935
  • AFL-CIO 1955
  • http//www.aflcio.org/aboutus/unions/

6
Weapons of Labor
  • Strike
  • Picket
  • Boycott
  • Slow-down

7
Weapons of Management
  • Lockout
  • Company Union
  • Injunction (Government)
  • Seizure (Government)

8
More Tools used by Unions
  • Competency test
  • National Advertising Campaign
  • State-Certification
  • Increased Productivity
  • Quotas/Tariffs on Foreign competition
  • Wage increase over equilibrium
  • Only union members hired/ Inclusive Unions

9
Main Ideas of Act 4-5-1
  • Which of the union goals has the most favorable
    impact on existing employers?
  • Which of the union goals is most restrictive in
    the number of people who might want to enter the
    labor market?
  • Which goal has the largest positive effect on the
    wage rate and number of laborers employed?
  • Unions can increase wage levels and employment.
  • Unions can cause unemployment in the labor market.
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