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The Complete Idiot's Guide to Economics, 2nd Edition by Tom Gorman

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The State of the Unions

Unions exist to address the imbalance of power between employer and employee. In a union, workers band together to bargain collectively with management regarding their pay, hours, and working conditions. Under collective bargaining, the union leaders negotiate a contract that governs these and other aspects of work at the company or in the industry. A union shop is a plant or other location, such as a construction site, where the workers are covered by the union contract. In many instances, workers are obligated to join the union in order to work at the location.
During contract negotiations or protests of management decisions, a union may hold a strike or slowdown. A strike usually shuts down an operation, costing the ...

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