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Lee Ohanian, a professor of economics at
UCLA, recently finished a study at the American Enterprise Institute
that examined what would happen if the U.S. returned to unionization
levels of the 1970s. He said the numbers wouldn't be good for economic
recovery.
"My estimates suggest (we) could lose perhaps 5 million jobs and lose
about 500 billion worth of GDP if unionization returned to levels we
had in the 1970s and if new union members were able to command the 15
percent wage premium that historically is applied to union membership.
So we would have a much sicker economy than we have right now."
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