 Comment on A. Oswald, “The Economic Theory of Trade Unions—An Introductory Survey”A chapter in Trade Unions, Wage Formation and Macroeconomic Stability, 1986, pp 52-54 from Palgrave Macmillan Abstract: Abstract The importance of trade unions in any useful analysis of the behavior of aggregate economic variables in most O.E.C.D. countries has recently come to be widely recognized. If unions represent most workers (as in Scandinavia) or even workers in a significant minority of industries (as in the United States), their existence cannot simply be ignored. Any plausible economic theory of what trade unions attempt and are able to do would suggest that they will have a major impact on the general level and/or structure of real wages, and any sensible theory of employment determination would imply that wage rates will have an impact on the equilibrium unemployment rate. Thus, public policy toward trade unions may be an important component of macroeconomic policy. There is, therefore, a great deal of incentive to build good microeconomic models of trade union behavior, for these might provide useful insights into the way the aggregate economy operates. Keywords: Trade Union; Real Wage; Union Wage; Macroeconomic Policy; Union Behavior (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-08596-5_3 Ordering information: This item can be ordered from DOI: 10.1007/978-1-349-08596-5_3 Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
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