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Essay on trade unions economics

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In this short revision video we analyse and evaluate three key points with respect to this question: "Evaluate the view that trade unions help improve outcomes in the labour market. Trade unions can use their collective bargaining power to increase the real wages of their members and therefore improve welfare. Eval: If wages rise faster than productivity, then firms will see a rise in unit costs and this can negatively affect profits and eventually lead to less jobs. Unions can act as a counter to the monopsony power of employers who may pay lower wages and spend less on worker training. Eval: A monopsony employer does not always pay lower wages than they need to. Many employers understand the positive link between pay and productivity.
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The Monroe Doctrine was to prevent the interference of Europe. Roosevelt also used international police power to enforce this doctrine. This was for National Security. The sphere of influence were regions of China outside the nation China had economic and political privileges. The Open Door Policy is when the secretary of state stated that all nations should have equal trading rights with China to European countries.
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Collectivism, Unionisation and Union Influence: A decline? An investigation into the attitudes and perceptions of South African unionised employees Political affiliation in brackets.
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The pool of unskilled and semi-skilled labor spontaneously organized themselves in fits and starts throughout its beginning, and would later become an important place for the development of trade unions. Trade unions were also endorsed by the Catholic Church towards the end of the 19th Century. Today, we live in a world where workers have assumed great importance. The employers have started to realize the importance of workers.
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