Selected in the top 100 Economics Sites

Follow me on Twitter

Tuesday, June 9, 2009

Read Charles Krauthammer and you know what to think.


http://www.washingtonpost.com/wp-dyn/content/article/2009/06/04/AR2009060403811.html?wpisrc=newsletter&wpisrc=newsletter



video

1 comment:

Andrew_Grodner said...

Congratulations on your good bet and it was pretty funny comment about your poor friend. Hopefully he is all well now and he will have more luck next time.

As for Chrysler and the auto bailout/bankruptcy it is really beyond me how the unions still exist in the auto industry at all. Over the last four years it was pretty clear that the retirement plans for the union workers will take down at least one of the Big Three automakers, and it was assuming "good times" for the auto sales. Now we have the total collapse of the industry and the unions seem to get the best out the bankruptcy. Where is President Reagan to fire them all? I am sure there is a long line of just-as-well-qualified-non-union workers who could do the job and actually help the industry become profitable.

I guess that in the case of monopsony there may be some reasoning for the existence of the unions to share the extra profits and keep the company in check. But if there are no profits at all, then what is the rationale for the unions at all?

Thanks for the funny post!