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This is talking about the public sector. Public sector unions are a disaster, with the police unions being the the star example. Unlike the private sector, you
by Aunche 4y ago
This is talking about the public sector. Public sector unions are a disaster, with the police unions being the the star example. Unlike the private sector, you can't capture profits from the owners because there is no profit to begin with. Instead, the money comes from the more junior employees and in the form of taxpayer debt. Thanks to unions, 40% of Chicago's education budget goes towards paying pensions. Meanwhile, younger teachers are stuck in dead-end part time roles because that's all the city has budget for.
- kevin_thibedeau 4y ago> Thanks to unions That's more like thanks to disinvestment in retirement funds to build capital for future payouts.
- AJ007 4y agoTo make the irony worse, the pension returns are dependent on allocating their capital to monopolies which are able to capture excess returns. Re-allocating profits from shareholders to workers de-funds the pensions (and retirees more broadly.)