https://en.wikipedia.org/wiki/Odious_debt
Private sector unions are essential and should get more protection from the government, but public sector unions don't make any sense to me.
https://en.wikipedia.org/wiki/Odious_debt
Private sector unions are essential and should get more protection from the government, but public sector unions don't make any sense to me.
Edit: To clarify first sentence, I mean that they do not have to take or hold these jobs.
To me, the current status isn't as simple as that. The current status that I see is that public pensions have outsized control over government spending, which means you can't just think of these unions in these simple happy terms.
It also seems perverse to many private sector workers that public workers, who are unionized, pay dues to the unions, which lobby the government for more benefits. Essentially the government is paying people to lobby against itself. Private unions don't have this conflict of interest, their funding is based entirely on profits based on the market.
[1]:http://www.mercurynews.com/2016/11/02/bart-janitors-whopping...
1. Privatization has a terrible track record, but it gains steam when the government is hamstrung by the labor-cost differential.
2. Governments are paying social democrat labor costs, while taking in neoliberal revenues. This makes nice things look inordinately expensive.
3. Jealousy in the private sector fosters conservatism / lazy govt worker stereotypes.
...
Basically long term the private sector unions undermine their own cause.
Once again, if you have a bunch of short-sited actors (c.f. financialization of business) you better be damn well they reach some equilibrium.
In the US, the federal and state governments are functionally and legally unable to undergo bankruptcy. Although municipal governments can technically go bankrupt, only five cities have done it since the Great Recession, and none of those bankruptcies actually resulted in significant debt shedding. In that same timeframe, hundreds of thousands of businesses went through bankruptcy.