Competition is a good thing whether in labor or oil or chicken markets.
that's like saying OPEC isn't a cartel because you can still get oil from russia or canada.
>it can fire it's entire workforce and rehire
isn't that union-busting and/or illegal?
> isn't that union-busting and/or illegal?
It's supposed to be, but it's often the case that corporations are not penalized to a sufficient amount (or at all) to deter this. We've seen many cases where it's cheaper for the corporation to pay these fines and continue doing what they are doing - in that sense the current laws are ineffective.
A cartel is a set of profit seeking firms in a specific industry who hold enough market influence to dictate price. It is the coordinated actions of an oligopoly to manipulate the market. You don't need to own the full market, you just need to be able to influence the market as a whole.
A union is, on a very surface level similar to a cartel, but unions are monopolies of labor, and do not represent the firms themselves.
They are both attempts to manipulate markets through group decision making, but even academically, they aren't seen as the same thing. There is a reason that cartel formation is very illegal while union formation is a protected right.
On a local level? Maybe? But consider that the US workers of the most valuable car company in the world (by a factor of about 3)are not part of the UAW, so it's debatable at best.
It's not even in the top 10 of car manufacturers by revenue. In fact it's only like 1/5th the size of the tenth place (Hyundai), or about 1/14th the size of the first place on that list (Volkswagen). It's not going move any car markets on its own, regardless of what goes on at Tesla.
So yeah, valuation is completely detached from (current) reality in this case, and Tesla is not a great example.
We could look at the biggest manufacturer instead, but I'm sure most people have heard of VW's union by now.
In fact this is why the Clayton Act specifically exempts unions from anti-trust law, and it's why "Right to work" laws are so controversial - they reduce the monopoly status of the union.
Correct me, if I'm understanding but your point seems to be this
Unions are a monopoly so it makes sense to call OPEC a union.
Let me refer us both back to intro to programming and frame this in OOP terms. Just because a Cat has an IS-A relationship to Animal, does not make all Animals Cats.
> OPEC is also a union
missedthecue 1 hour ago
> I wouldn't call OPEC a union
You might want to re-examine your cybersecurity measures - someone hacked your account.
We're really just splitting hairs at this point. My main point is that the motives and tactics of both OPEC and the UAW are identical.
aka collective bargaining.
> If you willingly compete
aka defecting.
It's just game theory. https://en.wikipedia.org/wiki/The_Logic_of_Collective_Action I really don't understand why people get so fluffed up about it.