Asked by Areeba Rajpout on Sep 28, 2024
According to standard economic thought, strikes are irrational because it is rare for a union to "win" in a strike.
Standard Economic Thought
The dominant or traditional theories and principles in economics, often focusing on market efficiency, supply and demand, and rational choice.
Strikes
A form of protest where workers stop working in an attempt to force an employer to comply with their demands, such as higher pay or improved working conditions.
- Understand the economic and informational theories behind why strikes occur.
Learning Objectives
- Understand the economic and informational theories behind why strikes occur.
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