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Union households tend to have $100k more in wealth than nonunion families

businessinsider.com

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Re: Union households tend to have $100k more in wealth than nonunion families

#11

Post by redeeman »

toomuchtodo wrote: post #6
mbostleman wrote: post #4

At the expense of other families not a party to the monopoly.

> At the expense of other families not a party to the monopoly. Corporate profits are unpaid wages. Non union workers can organize, it is a choice. Otherwise, continue being economically impaired by corporate shareholder and management actors on your own time. If you don’t organize against corporations, they would extract until there is nothing left (broadly speaking, some companies don’t embody this ethos, but many…

> Corporate profits are unpaid wages.

what about corporate losses then?

Re: Union households tend to have $100k more in wealth than nonunion families

#12

Post by marcusverus »

jollofricepeas wrote: post #5

This is basic economics. The rise of income and wealth inequality is directly tied to the weakening of collective bargaining, corporate consolidation and globalization. Source: https://home.treasury.gov/news/featured-stories/labor-unions... . Unionized workers are the only real backstop against corporate interests.

> The rise of income and wealth inequality is directly tied to the weakening of collective bargaining

That would make sense, but the data in the article do not seem to be cooperating.

1917-1950: Union membership up 3X. Top 1% share of income reduced by 2/3rds. Looks like a causal relationship!

1950-1980: Union membership is reduced by 1/2. Top 1% share of income... is reduced by 8/10ths? Huh.

1980-2020: Union membership is reduced by 1/2. Top 1% share of income goes up 10X. Basically the opposite of the previous period.

Re: Union households tend to have $100k more in wealth than nonunion families

#14

Post by tekno45 »

redeeman wrote: post #11
toomuchtodo wrote: post #6

Earlier quoted context omitted.

> At the expense of other families not a party to the monopoly. Corporate profits are unpaid wages. Non union workers can organize, it is a choice. Otherwise, continue being economically impaired by corporate shareholder and management actors on your own time. If you don’t organize against corporations, they would extract until there is nothing left (broadly speaking, some companies don’t embody this ethos, but many…

> Corporate profits are unpaid wages. what about corporate losses then?

They're not reasons for a CEO to get a multi million exit package.

Re: Union households tend to have $100k more in wealth than nonunion families

#17

Post by mwachs »

Confusing that the article has different numbers on the wealth gap than the source material:

“Working-class union households hold nearly four times as much median wealth ($201,240) as the typical working-class nonunion household ($52,221), suggesting that membership vastly increases wealth for working-class families.”

https://www.americanprogress.org/article/unions-build-wealth...

Re: Union households tend to have $100k more in wealth than nonunion families

#18

Post by blargey »

redeeman wrote: post #11
toomuchtodo wrote: post #6

Earlier quoted context omitted.

> At the expense of other families not a party to the monopoly. Corporate profits are unpaid wages. Non union workers can organize, it is a choice. Otherwise, continue being economically impaired by corporate shareholder and management actors on your own time. If you don’t organize against corporations, they would extract until there is nothing left (broadly speaking, some companies don’t embody this ethos, but many…

> Corporate profits are unpaid wages. what about corporate losses then?

Layoffs, pay freezes, cuts to wages/bonus/raises, etc?
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