Interesting article on unions and pensions

Will, Interesting article here, partly on recents trends in union-busting, but also on public employee pensions.  Proposes, in the final paragraphs, that perhaps pensions should be put to a vote, just like bonds. http://www.washingtonmonthly.com/magazine/mayjune_2011/features/the_fallacy_of_union_busting029139.php I’m not certain this would work well, because the public tends to have anti-Keynesian impulses (“I’m cutting back, so should the […]

Two more articles on the unions/pay/pensions issue

Today, NYT: http://www.nytimes.com/2011/03/02/business/02leonhardt.html?_r=1&scp=2&sq=leonhardt&st=cse .  Summary: it’s not the pay, it’s the pension and disability benefits.  And the work rules. Recently, Fortune/CNN: http://management.fortune.cnn.com/2011/02/28/are-public-unions-our-convenient-economic-scapegoats/?section=magazines_fortune . Summary: the unions are (generally) not the cause. Neither article supports the current moves to strip unions of the right to strike and/or engage in collective bargaining.  

A “contrary” view on the pension fund problems

Via Brad Delong‘s blog: http://www.cepr.net/index.php/publications/reports/the-origins-and-severity-of-the-public-pension-crisis It argues, roughly, that the current shortfall is attributable to the recent stock market plunge, that pension funds, because of their size and long-term outlook, need not and should not invest like individuals, and that the size of the shortfalls, as a share of future state receipts, is not that alarming. […]