PAPER Topics

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Since the foundation of the American Federation of Labor(AFL) in 1886, most unions in the United States have displayed a pragmatic out look, largely compatible with that of business. The general purpose of unions has been to protect and advanc ....

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... by the eminent English economist Alfred Marshall toward the end of the 19th century. Marshall theorized that the strength of a union depended upon four factors. First, demand for the product should be inelastic, so that there is little, if any, decline in sales in response to price increases. Second, labor costs should be a small portion of the total costs of production, so that a rather large increase in wages would generate only a small increase in the price of the product. Third, the supply of factors that can be used as substitutes for union labor, such as nonunion labor or labor-saving machinery, should be inelastic, so that th ...