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In 1930, W.H. Hutt demonstrated several spectacular points: labor unions cannot lift wages overall; their earnings come at the expense of the consumer; their effect is to cartelize business and reduce free competition to the detriment of everyone. He demonstrated these points with intricate logic that took on the main economic arguments for labor unions. In 1954, this little volume was published in the United States, with a very complimentary essay by none other than Ludwig von Mises, who saw Hutt's work as valid for the ages. Now this great essay is back in print, and all his points still hold true, particularly the least intuitive one that unions actually benefit some producers at the expense of others, and always harm the consumer. The brevity of this essay is as notable as its power to persuade.
USA collective bargaining textbook. Historical evolution since 1800. Government influence and management attitudes. Reassignment, layoffs, promotion, discipline, wages, hours of work and fringe benefits. Grievance handling. Power and policies of trade unions and management. Comment on labour legislation. Economic theory and economic implications. Effect on wage policy and income. Strikes.