a day ago
- People idealize mid-20th century union jobs as a golden age, but this perspective may overstate their significance.
- In fast-growing markets like mid-century manufacturing, companies prioritized rapid growth over efficiency, paying workers generously to avoid delays.
- High union wages during that era were a temporary anomaly, similar to inflated pay for web consultants during the Internet bubble.
- The decline of unions is not due to moral decline but because the period of rapid industrial growth ended, reducing the need for overpaying labor.