School of finance & Financial Management | Business University of Costa Rica
Email: email@example.com | ID: UNEM-OAA/DR/19MAR19
We are all aware of the existence of labor unions as part of the socioeconomic structure and the political economy of nations. However, many of us are sometimes confused between whether there exists a need for labor unions especially in the context of the routine bad press they receive as obstacles to progress and economic growth of nations. Indeed, in recent years, thanks to the dominance of the neoliberal policies pursued in the West and beginning to spread across the globe, it is common for capitalists and the media alike to paint the functioning of labor unions in a negative light. However, this was not always the case and there was a time when labor unions were looked upon as necessary and even vital bodies for the healthy functioning of democracy and capitalism.
Keywords: Labor Unions, Political Economy of Nations