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Lecture 19

ECON 201 Lecture Notes - Lecture 19: Vehicle Insurance, Bargaining Power

Course Code
ECON 201
Lynn Usher

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ECON 201
Education and Health-Care Continued
D. Possible Economic Solutions: increase competition
1. People purchase health care as they do car insurance
2. Make employer health care benefits taxable or personal health insurance tax deductible
3. Encourage Health Care Savings Account (HSAS)
4. Encourage purchase of Catastrophic Health Insurance
5. Allow people to purchase health care out-of-state providers
6. Emphasize supply side- training providers, provide more medical schools, financial aid low income
med students
I. Labor Unions
A. Definitions: organization of employees, (usually same occupation of industry)
Consent to join bargaining with employers about:
1. Wages
2. Working conditions
3. Grievance procedures etc.
Bargaining power: strike or threat or strike
B. Historically Controversial:
Initially designed to protect workers from greedy firms
general behave as monopolies
reduce economic efficiency
Unionization by Group:
Union Membership- by sector
Private Sector Employees (6.6)
Government Employees (35.5)
4x as many government employees than private sector workers
C. Causes of Union Decline: P unionized labor becomes more elastic
1. Increase competition with domestic and foreign firms
2. Increase competition with non-union works
3. Automation replaces humans with machine
4. Deregulation certain industries
II. Right to work laws: 28 states
Recent: make it illegal for companies to require union membership as a condition of
employment (Right to Work)
Easier for Unskilled workers to:
Earn more
Have jobs protected
Increases competition
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