Sunday, March 1, 2009

 

Pro-Monopoly Economists

As Prof. Mankiw notes, it's strange to see well-known economists supporting the bill in Congress to eliminate the secret ballot in union elections, allowing instead for the union organizers to pressure workers to sign cards publicly that the organizers then collect and turn in. I wonder if those economists would also oppose the secret ballot in Congressional elections?

As Prof. Mankiw notes, unions are cartels of labors, so a second question is why economists like those cartels. Unions get a special exemption from anti-trust laws, but they are just monopoly sellers of labor. They aren't even cartels that redistribute income from rich to poor--- they do the opposite. Unionized workers are, I think, on average richer than the average person, so when they get higher wages by restricting the amount of labor hired those workers who lose their jobs in the industry end up with lower wages, and also end up paying the higher prices for things such as cars that the unions produce.

Anyway, here are the economists who signed the open letter that I've heard of in a scholarly context:

Katharine Abraham, University of Maryland
Philippe Aghion, Massachusetts Institute of Technology
Kenneth Arrow, Stanford University
Jagdish Bhagwati, Columbia University
Rebecca Blank, Brookings Institution
Joseph Blasi, Rutgers University
Alan S. Blinder, Princeton University
William A. Darity, Duke University
Brad DeLong, University of California/Berkeley
John DiNardo, University of Michigan
Henry Farber, Princeton University
Robert H. Frank, Cornell University
Richard Freeman, Harvard University
James K. Galbraith, University of Texas
Robert J. Gordon, Northwestern University
Lawrence Katz, Harvard University
Dani Rodrik, Harvard University
Jeffrey D. Sachs, Columbia University
Robert M. Solow, Massachusetts Institute of Technology
Joseph E. Stiglitz, Columbia University
Peter Temin, Massachusetts Institute of Technology
Lester C. Thurow, Massachusetts Institute of Technology
David Weil, Boston University
 

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