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Home | Mises Library | The Theory of Collective Bargaining

The Theory of Collective Bargaining

  • Theory of Collective Bargaining by William H. Hutt
April 25, 2007

Tags Production Theory

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. All of 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.

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References

Glencoe, IL: The Free Press, 1954.