4 ms·
Yes and: Union wages are known by all their members. And somehow the world hasn't ended. Transparency seems reasonable to me. A good first step. For the game
by specialist 3y ago
Yes and:
Union wages are known by all their members. And somehow the world hasn't ended.
Transparency seems reasonable to me. A good first step.
For the game theory minded, highest recommendation for the book The Logic of Collective Action. Explains the free rider problem, debunking the prevailing economic folk theories of the day (1965).
https://en.wikipedia.org/wiki/The_Logic_of_Collective_Action https://en.wikipedia.org/wiki/The_Logic_of_Collective_Action
TLDR: Collective bargaining keeps everyone honest.