Unions and Capitalism

allocation alternative annual wage arbitration bituminous coal buyer CHAPTER coal collective bargaining commodity competitive price system competitive rates consequences of union consumer creases democratic disruptive dollar votes economists economy effect enterprise monopoly entrepreneur established fact factors of production firms goals high wage rates income industrial democracy industry-wide inflation innovation insist interest labor costs labor market labor movement large numbers less limited long-run major managerial authority membership ment method monopolistic monopoly power monopoly wage negotiation nonunion nopoly operate output perfect competition Philip Murray ployer political possible price increases problem production profits raise wages reduce responsible restrain restriction result social spending strike strikebreakers sumer syndicalism syndicalist teamsters tion tive unem unemployed unemployment union control union leader union leadership union members union monopoly union policy union power union rate union wage policy United Automobile Workers wage demands wage determination wage gains wage increases