Write the advantages and disadvantages of trade unions in the perspective of Government I'll mark brainliest plz don't copy
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Answer:
Trade unions are organisations representing the interests of workers. They were formed to counter-balance the monopsony power of employers and seek higher wages, better working conditions and a fairer share of the company's profits.
Critics of trade unions argue they can be disruptive to firms, discouraging investment and improved working practices. Furthermore, powerful unions can lead to macroeconomic problems such as wage inflation and lost productivity due to strike action.
In the post-war period, trade unions gained substantial power and had a large influence over wages, unemployment and the economy. However, with the decline of manufacturing industries, unions have gone into decline and some economists argue this has contributed towards increased wage inequality.
This is a look at the main pros and cons of trade unions in the modern economy.
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Answer:
Advantages and Disadvantages of Trades Unions
Trade unions are organisations representing the interests of workers. They were formed to counter-balance the monopsony power of employers and seek higher wages, better working conditions and a fairer share of the company's profits.
Critics of trade unions argue they can be disruptive to firms, discouraging investment and improved working practices. Furthermore, powerful unions can lead to macroeconomic problems such as wage inflation and lost productivity due to strike action.
In the post-war period, trade unions gained substantial power and had a large influence over wages, unemployment and the economy. However, with the decline of manufacturing industries, unions have gone into decline and some economists argue this has contributed towards increased wage inequality.
Advantages of Trades Unions
1. Increase wages for its members
2. Counterbalance Monopsony Power
3. Represent workers
4. Productivity deals
5. Poor wage growth in non-unionised workforce
6. Reduce inequality
Potential disadvantage of Trades Unions
1. Create Unemployment
2. Ignore non-members
3. Lost Productivity
4. Wage-inflation
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