The graph works in its simplicity, but when you take other things such as economic growth, value created, and value extracted, you will quickly see that unions only cause unemployment if chiefs of industry give up no money in their own wage, which has gone up by nearly 1000% since 1978. Comparatively workers comp has gone up by on 11%, despite productivity increasing exponentially. There is more money too be handed out, meaning employment does not drop as a result.
I always thru the years knew it was all about what you talked about .getting some more money ? But at the expenses. Of retrenching workers that's why we gave so much unemployment. So sad .
Trade unions: if you dont pay us what we deserve then we will bring you to a stand still billionaires : if you don't work for buttons we will bring the country to a stand still until you do and we will blame trade unions for our greed
Well explained but as has been said.. theory and practice in the real world is quite different. World as imagined vs world in reality As a Union Member and Representative the wage vs market conditions is vitally important. The banalities of your explanation are akin to suggesting Marxism is correct when applied to the real world.
Great video thank you so much can u kindly post a video on indifference curves income and substitution effects I usually learn from you I use to get U in econ I watched your videos for a week and a half and re sat my econ paper oct nov got a B it was lt was al most an A thank you so much hopefully to get an A this year. Thank you so much
Dafuq? Indian workers don’t produce enough output and work in low productivity jobs then ask for higher wages...Labour laws and hiring and firing laws should be eased in India to encourage business...
If taxes for food stamps arent payed in big citys small businesses in small towns tax of small businesses fall balance works with the question is balance not needed with tax Big citys untaxing food stamps cuts balance in small towns small businesses small towns untaxing of food stamps
Hello, Great video! I learned a lot. I would like to know if unions of government workers have different effect. For example, where I live we have a Trade Union that is all the workers of our Government owned electric company. Ive always thought they have to much power, an excess. What do you think is happing here economic wise?
I have a question in a competitive trade market 1 individual might get much less when comared to some others they will be unhappy so they might leave but in trade unions if it is favourable wouldn't it attract more ppl ?
Hi, I have a question, according to what my teacher taught, when trade union formed the supply of labour will reduce as trade union control the supply of labour , so it cause a shift inward of labour supply curve instead of horizontal line , can I know which one is correct :)
union mark u[p in 2024- is aronudn 3.5% so shows the powr of treade unions because those who afre part of trade unions get paid 3.5% more than those who arent in a similar profiessiponl Aand the fact that we are not geneeralisinf anbd dsaying trade unions, wer are sayign the4 trade union density- is more accurate, as this is an evaluatiave point. !!!!! to say that whi8ls ttrade union membership has decreasweds, the union mark up still is realtively high - at 3.5%- so this shows that terade uninons certainly have lots of power in ernogtiating for ghigher wages
Another evaluation could be the political party in power at that time, compare conservatives and labour party where labour wants to increase TU power but the other doesn't.
The assumption of the Labour party is always pro TU whiles Conservatives aim to remove them in order to let the market work isn't always necessary true. Before Margaret Thatcher, the post war consensus which both the Labour party and the Conservatives followed, aimed to achieve 'Full Employment' and allowed for the TU to work. Nonetheless, the globalist economy prevented British workers from achieving abnormal profits as their wages caused prices to be too high compared to developing countries. The first PM to suggest a change to TU power was actually Harold Wilson, Labour PM in the 60's with the proposal of the "In Place of Strife". The white paper was rejected and the living conditions deteriorated, leading to the success of Edward Heath, who planned to reduce TU power with monetarism however, failed due to the OPEC crisis in 1973. Whiles ousting the CONs in the early 70's, trade unions ousted Callaghan (Labour PM) in 1979 after the "Winter of Discontent" leading to the election victory of Margaret Thatcher. After that, future PMs continued to marginalise TU power including Tony Blair with the New Labour policies. Only recently did Labour change their stance on TU power with the party election victory of Jeremy Corbyn with Blarite MPs continuing to appose the changes.
Great question. Trade unions were formed because working people realized that "efficient, competitive markets" were screwing them, and that mainstream economics exists in order to create the illusion that their getting screwed is somehow "scientifically valid." If you want to hear a trained economist explain how and why mainstream economics (such as this young man) is really nothing but propaganda, check out Ben Fine's work: ua-cam.com/video/dbawrxfmqhg/v-deo.html
Said by a BTEC economics student who makes 8 minute-long videos of how to open a door. Give the kid a break, he's still finding his position on the spectrum. Interpret "spectrum" in any way you wish.
This is a silly model workers don’t have to increase wages of new workers unless you have full high Quality employment which is true in no country ever and if we didn’t have trade unions we would still have 12 hour 7 day work weeks.
Every short-minded people says somethin like this for every sectors. Economic Model is simplification of the real world, of course its vastly different,, they re trying to explain it on scientific way.
best teacher ever award goes to you!!!
Thank you so much, it was really informative and helped me understand some pretty complex issues!
Not only helps Birtish A-level course but also helps American AP Eco
谢谢！ 真的很有帮助！
Thank you, your video is helpful!
Greatest of all time Dal
Those who disliked just didn't understand how helpful Mr EconplusDal is because they don't take economics :(
You are the best, help me a lot in my microeconomics classes!!!
Lovely Dal!
brief but concise! great
sir thank you for the excellent videos i wish that you post videos on indifference curves
Love u dad
one of his best videos
you have provided invaluable knowledge by making these economics videos
Malhar Trivedi can u do better?
someone doesnt know what invaluable means...
The graph works in its simplicity, but when you take other things such as economic growth, value created, and value extracted, you will quickly see that unions only cause unemployment if chiefs of industry give up no money in their own wage, which has gone up by nearly 1000% since 1978. Comparatively workers comp has gone up by on 11%, despite productivity increasing exponentially. There is more money too be handed out, meaning employment does not drop as a result.
I can smell your Socialism all the way from here.
@@Hg-1-13 at least I’m right🤷♂️
Annd that’s why this is called “A” level economics. I’m sure if you go into degree level economics stuff gets complicated very, very quickly.
I always thru the years knew it was all about what you talked about .getting some more money ? But at the expenses. Of retrenching workers that's why we gave so much unemployment. So sad .
Trade unions: if you dont pay us what we deserve then we will bring you to a stand still
billionaires : if you don't work for buttons we will bring the country to a stand still until you do and we will blame trade unions for our greed
Thank you very much sir
Best teachers in the whole world, ones who disliked it, I don’t know know what to say to u guys😂just why????hahha
Higher wages also means higher COP and which would result in cost push inflation leading to increased poverty and lowered living standards
Goated. 🐐
Excellent video thanks!
What about the changes in the elasticity of the demand for labor?
Thanks for the videos, really helpful
this is why ur the goat
Outstanding!!!! Thanks
I HOPE ONE DAY YOU RECIEVE THE RECOGNITION YOU DESERVE
So the TU essentially implements a price-floor up until where Wtu meets supply again?
my school teachers walked so dal could run
very well done
Great Help. thanks
thanx a lot but i have question ??? was the trade unions in britain as a result of of foreing influneces ???
Thank you
love the video ~
Well explained but as has been said.. theory and practice in the real world is quite different.
World as imagined vs world in reality
As a Union Member and Representative the wage vs market conditions is vitally important.
The banalities of your explanation are akin to suggesting Marxism is correct when applied to the real world.
Its for the a level, the real world is irrelevant
thanks....
very helpful.........
thanks a lot
Great video thank you so much can u kindly post a video on indifference curves income and substitution effects I usually learn from you I use to get U in econ I watched your videos for a week and a half and re sat my econ paper oct nov got a B it was lt was al most an A thank you so much hopefully to get an A this year. Thank you so much
The law of India has never written down that Labor should be killed, but Labor is oppressed for what it is
Dafuq? Indian workers don’t produce enough output and work in low productivity jobs then ask for higher wages...Labour laws and hiring and firing laws should be eased in India to encourage business...
Is this UK specific in terms of less power and legislation?
4:45 lmao "cutie you"
If taxes for food stamps arent payed in big citys small businesses in small towns tax of small businesses fall balance works with the question is balance not needed with tax
Big citys untaxing food stamps cuts balance in small towns small businesses small towns untaxing of food stamps
Can u use a micro diagram as part of a macro essay
Hello, Great video! I learned a lot. I would like to know if unions of government workers have different effect. For example, where I live we have a Trade Union that is all the workers of our Government owned electric company. Ive always thought they have to much power, an excess. What do you think is happing here economic wise?
thanks a lot
despite the lmimited power fo t5reade unions:--UNION MARK UP - 3.4%-AND trade union density- is 23%
I have a question in a competitive trade market 1 individual might get much less when comared to some others they will be unhappy so they might leave but in trade unions if it is favourable wouldn't it attract more ppl ?
Under this view, wages are a cost to firms do higher wages will mean they can afford less workers so their demand for labour will fall
@@royaluchennalevi6224 fam u replied to a guy who asked 8 months ago but u did help me tho lol
@@rohitreddy8035 I guess it was worth it 😂
Genius.
WOW wow
Wait Ina. Competitive Labour market are workers paid their MRP
Hi, I have a question, according to what my teacher taught, when trade union formed the supply of labour will reduce as trade union control the supply of labour , so it cause a shift inward of labour supply curve instead of horizontal line , can I know which one is correct :)
5 years have gone by, did u pass ur exams, hope u did
union mark u[p in 2024- is aronudn 3.5% so shows the powr of treade unions because those who afre part of trade unions get paid 3.5% more than those who arent in a similar profiessiponl Aand the fact that we are not geneeralisinf anbd dsaying trade unions, wer are sayign the4 trade union density- is more accurate, as this is an evaluatiave point. !!!!! to say that whi8ls ttrade union membership has decreasweds, the union mark up still is realtively high - at 3.5%- so this shows that terade uninons certainly have lots of power in ernogtiating for ghigher wages
7:47
Another evaluation could be the political party in power at that time, compare conservatives and labour party where labour wants to increase TU power but the other doesn't.
The assumption of the Labour party is always pro TU whiles Conservatives aim to remove them in order to let the market work isn't always necessary true. Before Margaret Thatcher, the post war consensus which both the Labour party and the Conservatives followed, aimed to achieve 'Full Employment' and allowed for the TU to work. Nonetheless, the globalist economy prevented British workers from achieving abnormal profits as their wages caused prices to be too high compared to developing countries. The first PM to suggest a change to TU power was actually Harold Wilson, Labour PM in the 60's with the proposal of the "In Place of Strife". The white paper was rejected and the living conditions deteriorated, leading to the success of Edward Heath, who planned to reduce TU power with monetarism however, failed due to the OPEC crisis in 1973. Whiles ousting the CONs in the early 70's, trade unions ousted Callaghan (Labour PM) in 1979 after the "Winter of Discontent" leading to the election victory of Margaret Thatcher. After that, future PMs continued to marginalise TU power including Tony Blair with the New Labour policies. Only recently did Labour change their stance on TU power with the party election victory of Jeremy Corbyn with Blarite MPs continuing to appose the changes.
Why were Unions formed then?
Great question. Trade unions were formed because working people realized that "efficient, competitive markets" were screwing them, and that mainstream economics exists in order to create the illusion that their getting screwed is somehow "scientifically valid." If you want to hear a trained economist explain how and why mainstream economics (such as this young man) is really nothing but propaganda, check out Ben Fine's work: ua-cam.com/video/dbawrxfmqhg/v-deo.html
Said by a BTEC economics student who makes 8 minute-long videos of how to open a door. Give the kid a break, he's still finding his position on the spectrum. Interpret "spectrum" in any way you wish.
Myles Bero Exactly what a libtard would say. And yes I am acoustic.
@@davidluong8370 How do employers force workers to work in unsafe conditions?
America was great for the working class when unions were great.
As unions have declined, the working middle class in America has declined in kind.
This is a silly model workers don’t have to increase wages of new workers unless you have full high Quality employment which is true in no country ever and if we didn’t have trade unions we would still have 12 hour 7 day work weeks.
Wage discrimination is assumed not to exist. If you think that is stupid, question perfectly competitive market theory.
Do edexcel need to know this
no
two eg
You're making a lot of assumptions to make your graph work. My experience has taught me that the reality is vastly different.
Every short-minded people says somethin like this for every sectors. Economic Model is simplification of the real world, of course its vastly different,, they re trying to explain it on scientific way.
It's economic theory
Ofc the scope is quite narrow as this is for the 2 year A level syllabus, not for university, where you go into depth with economics.
dal > uplearn