Tuesday, February 22, 2011

McKinsey, the consulting firm, on their own, looked at what factors distinguished developing economies from those that didn't several years ago. One of the things that struck me is a situation that was counterintuitive to what might be expected of business consultants or, at least, counter ''conservative' that I think applies to the WI union argument. They said that the Sherman Antitrust Act which limited monopolies represented a government policy that helped growth. Basically the problem with public sector unions is that they gain monopoly power. Ironically again, it was the progressives of an earlier era, circa 1900, for whom the Sherman Antitrust Act represented a victory.

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