An attempt to "rationalize" a discipline in order to eliminate "unfair competition."

This member of society lacks the skills necessary to enter the job market, and due to minimum wage, will be unlikely to procure work.

The more this happens, the more companies are willing to pay for each paycheck.

A government monopoly created to control the flow of labor to restrict it.

These people are "highly paid and whose skills are so rare... that only one employer is big enough to take full advantage of them.

The most effective way to ensure incentives and create innovation.

A member of a union works for this amount near the minimum wage.

An example of flagrant monopoly in medicine through licensure.

This is the percentage that large companies provide to the national income through taxes.
(Hence, making the private sector important for our economy and government to function.)

The real protections for a worker with no assurance from an employer.

Labor unions benefit these workers.

A discriminatory act that created a divide of unemployment between whites and blacks from 0% to 15-20% (in 1950 to 1980).

A justification for licensure.

Unions rely on this body to make their ends meet and to pass accommodating bills.

This helps an employer to keep his wages low and to be able to hire many.

"The gains that strong unions win" are mainly for these members of society.

Ways in which a labor union can enforce a high wage rate for employers.

The workers' desire to increase demand for services with few ways to do it, causing a monopoly for services and inflating prices.

"The result (of this) is a bureaucracy nearly devoid of incentives and largely beyond anyone's control..."
Wall Street Journal
(Over one million of these type of workers are eligible for a raise, only 600 did not receive them (in 1980))

Competition is good for this person because it allows for the possibility to seek better goods or services elsewhere.

This method proves highly effective with employers to time strikes and negotiating terms of agreements to profit themselves and benefits their members.

These people ultimately take the consequences of a high minimum wage.

The reason for restricting entry into or the number of people in a profession. (Even if the cost is a lack of forward movement and innovation.)

This is when there is no competition in a certain market, so the workers become deincentivized which leads to a poor quality good or service without a forum of improvement.

This form of circular competition allows firms to hire more while being able to seek the best to improve productivity, and also proves beneficial for the worker who has the option to make more money through improving their labor.