Strike and political disturbance issue on business
Answers
Explanation:
This answer is purely theoretical as I’ve never experienced a strike as a business owner.
The basic economics of a unionized work force would tell you that workers are not receiving adequate compensation or benefits from their employer through the free-market system. Therefore, they need to organize to threaten the employer with a strike in order to get more compensation, better working conditions and better benefits.
The largest union in our current time is the Teacher’s Union. Since, a lot of college graduates decided to become teachers, there is a glut of teachers (I didn’t say good teachers); This means the supply is high and the demand is moderate. With a high supply and moderate demand, wages will naturally go down. When a strike happens, the union is typically asking for higher wages and fighting the natural supply/demand curve. They will probably get their demands met at some point, wages will rise. School districts will increase taxes to pay higher wages. At some point the public may believe that they are not getting the best value for their money… hence, the education voucher movement. And they will seek an alternative source for their hard-earned money.
In a non-public, non-monopolized system, consumers will find a different supplier; and the employer will go out of business. In a public, monopolistic system, the consumer will be forced to pay the higher price regardless of whether or not they feel they are receiving value
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