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71. Unions, Economic Freedom, and Growth

Author:
Randall G. Holcombe and James D. Gwartney
Publication Date:
02-2010
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
The freedom to enter into contracts and to direct the use of economic resources one owns are essential to the operation of a market economy. Allowing employees to form unions to bargain collectively over wages and employment conditions is consistent with economic freedom, and any government intervention preventing unionization would be a violation of economic freedom. Nevertheless, American labor law, especially since the 1930s, has altered the terms and conditions under which unions collectively bargain to heavily favor unions over the firms that hire union labor. Labor law has given unions the power to dictate to employees collective bargaining conditions, and has deprived employees of the right to bargain for themselves regarding their conditions of employment. While unions and economic freedom are conceptually compatible, labor law in the United States, and throughout the world, has restricted the freedom of contract between employees and employers.
Topic:
Economics
Political Geography:
United States and America

72. Public Sector Unions and the Rising Costs of Employee Compensation

Author:
Chris Edwards
Publication Date:
02-2010
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
Public sector compensation is becoming a high-profile policy issue. While private sector wages and benefits have stagnated during the recession, many governments continue to increase compensation for public sector workers. At the same time, there are growing concerns about huge underfunding in public sector retirement plans across the nation.
Political Geography:
United States

73. Unions and the Decline of U.S. Cities

Author:
Stephen J. K. Walters
Publication Date:
02-2010
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
The usual suspects in the tragic demise of many of America's core cities are well known. For decades, scholars, politicians, and pundits have condemned the racism that led whites to flee diverse urban populations after World War II, sneered at Americans' vulgar affection for cars and expansive lawns, criticized policies that encouraged us to indulge these tastes, and blamed capitalist greed and unwhole- some technological change for the deindustrialization that has wrecked urban labor markets.
Topic:
War
Political Geography:
United States and America

74. Prevailing Wage Laws: Public Interest or Special Interest Legislation?

Author:
George C. Leef
Publication Date:
02-2010
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
The public policy of the United States is broadly in favor of competition. Our antitrust laws are premised on the idea that in the absence of such legislation private interests would seek to create monopolies, fix prices, restrain trade, and stifle competition. Moreover, the federal government, as well as the states and municipalities, has laws mandating competitive bidding on government contracts to guard the public against "sweetheart deals" that squander tax dollars. Open competition, in fact, is usually the undoing of those conspiracies against the public that Adam Smith saw as so prevalent.
Political Geography:
United States

75. Right-to-Work Laws: Liberty, Prosperity, and Quality of Life

Author:
Richard Vedder
Publication Date:
02-2010
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
The most essential ingredient embodied in the liberty championed by the classical liberal writers of the Enlightenment and beyond is individual choice and right of expression—the right of persons to say what they think, decide for themselves what groups that want to join, what religion that want to profess, what person they want to marry, what goods they want to buy or sell, and what persons they want to represent them where necessity requires collective decision making. One important economic dimension of individual liberty is the right to sell one's labor services without attenuation—that is, without limits on the terms of the agreement (e.g., wage rates and hours of work), or who will represent the worker in reaching those terms.
Political Geography:
United States

76. Unions, Protectionism, and U.S. Competitiveness

Author:
Daniel Griswold
Publication Date:
02-2010
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
In the past three decades, labor union leaders have emerged as among the chief critics of trade liberalization, while the economic evidence has grown that labor unions compromise the ability of American companies to compete in global markets.
Political Geography:
United States and America

77. Unions, the High-Wage Doctrine, and Employment

Author:
Lowell E. Gallaway
Publication Date:
02-2010
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
In the more than 200 years in which formal organizations of workers (labor unions) have existed in the United States, there have been three distinct eras of policy toward them. Initially, in the late 18th and early 19th century, they were regarded as associations that came under the purview of the English common-law doctrine of conspiracy— that is, their very existence could be considered illegal, regardless of the objectives of the group.
Political Geography:
United States

78. Editor's Note

Author:
James A. Dorn
Publication Date:
06-2010
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
This special issue of the Cato Journal was made possible by a generous grant from the Arthur N. Rupe Foundation. The question posed in this issue—Are Unions Good for America?—has both normative and positive aspects. Normatively, if one takes freedom as a fundamental principle, then compulsory unionism cannot be justified in a free society; it violates the rights of both workers and employers. Under current U.S. labor law, workers are often compelled to join unions and employers are compelled to negotiate "in good faith." Public sector unions are even more onerous than private sector unions; they limit consumer choices and impose heavy tax burdens.
Political Geography:
United States and America

79. The Constitutionalization of Money

Author:
James M. Buchanan
Publication Date:
06-2010
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
The market will not work effectively with monetary anarchy. Politicization is not an effective alternative. We must commence meaningful dialogue with acceptance of these elementary verities. Far too much has been said and written in elaboration of the first statement, which too often is taken to be equivalent to the assertion that "capitalism" or "the market" has failed. Admittedly claims for market efficacy without qualifiers can be found. But economists should know that anarchy can only generate disorder rather than its opposite.
Topic:
Markets and Monetary Policy
Political Geography:
United States

80. Is a Benign Dollar Policy Wise?

Author:
William Poole
Publication Date:
06-2010
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
Officially, the United States has a strong-dollar policy, whatever that is supposed to mean. In practice, what we see is a benign dollar policy, by which I mean that the United States is very unlikely to take any action to attempt to affect the value of the dollar on the foreign exchanges that it would not take for other reasons. My title asks the question "Is a Benign Dollar Policy Wise?" My answer is a resounding "yes."
Topic:
Foreign Exchange
Political Geography:
United States