Trade Unions in the Labor Market: Roles and Influence

The video explores the role of trade unions in the labor market, detailing their objectives, such as protecting worker rights and improving wages through collective bargaining. It discusses the decline in trade union membership in the UK and analyzes the impact of trade unions on both perfectly competitive and monopsonistic labor markets. The video also presents arguments for and against trade unions, considering their effects on employment and wages, and evaluates their activity in terms of labor demand elasticity.

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