Current Affairs Rail strikes

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If we ever did have a general strike, I wonder realistically how long it would take for the Government to collapse, assuming it would collapse and that they wouldn’t try and hang on
 
catcherintherye said:
They are, and I'm not normally hateful, but Sunak at that homeless shelter just tipped me mate. I dont know why someone would want to do that to a fella clearly down on his luck. It seems sociopathic to me.

I think unions are on strike for their members, but a win would defeat the government.

Re Labour, if I felt they were in the right, and the government was in the wrong, I would support them. It depends on the situation really.

When the dockers went out on strike for Enoch Powell against a Tory government, I would have supported the government. You have to judge each on their merits for me.
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How do you feel when I say the word...






















Nonse!
 
Maybe of interest

How Businesses Should (and Shouldn’t) Respond to Union Organizing

In 2022, workers in the United States voted to form more unions than they have in nearly 20 years, and labor has recently organized at companies in almost every industry. But most business leaders have responded in an outdated way, by embracing union busting at all costs. This ignores business...
hbr.org hbr.org
 
Just putting this out there

"The argument runs as follows: Workers, having experienced a material drop in purchasing power, will bargain for a bigger boost in wages to make them whole," the researchers explain. "Employers will accommodate the desire for wage catchup, especially when faced with tight labor markets. In effect, the surprise component of recent price inflation raises future wage inflation. Higher wage inflation, in turn, raises production costs and thereby feeds into higher price inflation. Thus, a bigger wage-catchup effect implies the need for tighter monetary policy to bring the inflation rate down to a desired level, raising the likelihood of recession in the process."
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Source: https://bfi.uchicago.edu/wp-content/uploads/2022/06/BFI_WP_2022-80.pdf
 
Bruce Wayne said:
Just putting this out there



Source: https://bfi.uchicago.edu/wp-content/uploads/2022/06/BFI_WP_2022-80.pdf
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Old wine in new bags. Old article as well.

Three factors are working together to contain the risks: the underlying shocks to inflation are coming from outside the labor market, falling real wages are helping to reduce price pressures, and central banks are aggressively tightening monetary policy
www.imf.org

Wage-Price Spiral Risks Appear Contained Despite High Inflation

underlying shocks to inflation are coming from outside the labor market, falling real wages are helping to reduce price pressures, central banks are aggressively tightening monetary policy
www.imf.org www.imf.org
 
FrenchDarrenBent said:
Old wine in new bags. Old article as well.

Three factors are working together to contain the risks: the underlying shocks to inflation are coming from outside the labor market, falling real wages are helping to reduce price pressures, and central banks are aggressively tightening monetary policy
www.imf.org

Wage-Price Spiral Risks Appear Contained Despite High Inflation

underlying shocks to inflation are coming from outside the labor market, falling real wages are helping to reduce price pressures, central banks are aggressively tightening monetary policy
www.imf.org www.imf.org
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It was published six months ago and contains insights from business leaders. Nick Bloom is probably the foremost authority on remote work in the world.
 
Bruce Wayne said:
It was published six months ago and contains insights from business leaders. Nick Bloom is probably the foremost authority on remote work in the world.
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Still, you quoted something from that article to underline something you've been talking about: the wage-price inflation spiral.
Here's another link, just putting it out there. Might be of interest if you read the summary. Again, from the IMF.

www.imf.org

Wage-Price Spirals: What is the Historical Evidence?

How often have wage-price spirals occurred, and what has happened in their aftermath? We investigate this by creating a database of past wage-price spirals among a wide set of advanced economies going back to the 1960s. We define a wage-price spiral as an episode where at least three out of four...
www.imf.org www.imf.org
 
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FrenchDarrenBent said:
Still, you quoted something from that article to underline something you've been talking about: the wage-price inflation spiral.
Here's another link, just putting it out there. Might be of interest if you read the summary. Again, from the IMF.

www.imf.org

Wage-Price Spirals: What is the Historical Evidence?

How often have wage-price spirals occurred, and what has happened in their aftermath? We investigate this by creating a database of past wage-price spirals among a wide set of advanced economies going back to the 1960s. We define a wage-price spiral as an episode where at least three out of four...
www.imf.org www.imf.org
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None of these analyses seem to assess whether monetary policy intervened to prevent the spiral, which resulted in a recession, which is the ultimate point made in my quote. I seem to remember recessions in the 70s and 80s in direct response to periods of high inflation/wage rises.

It's perhaps also worth remembering that the potential impact of a wage-price spiral is much greater in industries where the cost of labour is a larger part of the cost of production. Arguably the most prominent of these is healthcare, which is obviously under intense cost pressures already and will become even more so as the demographic situation unfolds.
 
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