US

What if Collective Bargaining ‘Rights’ Were Antitrust Violations?

It’s an idea worth exploring: what if collective bargaining “rights” were more akin to antitrust violations? It’s an idea Robert Barro puts forth in an op-ed in Monday’s Wall Street Journal.

Barro, a professor of economics at Harvard and senior fellow at Stanford University’s Hoover Institution, bases his observation on the fact that unions are generally founded on collusion:

Labor unions like to portray collective bargaining as a basic civil liberty, akin to the freedoms of speech, press, assembly and religion. For a teachers union, collective bargaining means that suppliers of teacher services to all public school systems in a state—or even across states—can collude with regard to acceptable wages, benefits and working conditions. An analogy for business would be for all providers of airline transportation to assemble to fix ticket prices, capacity and so on. From this perspective, collective bargaining on a broad scale is more similar to an antitrust violation than to a civil liberty.

He also explains that Unions have manged to dodge antitrust laws despite their practice of forced membership:

Remarkably, labor unions are not only immune from antitrust laws but can also negotiate a “union shop,” which requires nonunion employees to join the union or pay nearly equivalent dues. Somehow, despite many attempts, organized labor has lacked the political power to repeal the key portion of the 1947 Taft Hartley Act that allowed states to pass right-to-work laws, which now prohibit the union shop in 22 states. From the standpoint of civil liberties, the individual right to work—without being forced to join a union or pay dues—has a much better claim than collective bargaining. (Not to mention that “right to work” has a much more pleasant, liberal sound than “collective bargaining.”) The push for right-to-work laws, which haven’t been enacted anywhere but Oklahoma over the last 20 years, seems about to take off.

“There is evidence that right-to-work laws — or, more broadly, the pro-business policies offered by right-to-work states — matter for economic growth,” Barro says. To read that evidence, visit the Wall Street Journal.

Comments (157)

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  • dadsrootbeer
    Posted on February 28, 2011 at 10:25am

    Anybody want an example of what happens when a specific industry group colludes and it’s illegality look no further to the MBL owners and the players unions. The “Players shall not act in concert with other Players and Clubs shall not act in concert with other Clubs.” In other words, COLLUSION by either side is ILLEGAL.

    Report Post » dadsrootbeer  
  • rightwingheroes
    Posted on February 28, 2011 at 10:25am

    Of course the Left will just dismiss this guy as a conspiracy theorist or a hate monger. Typical.

    Report Post »  
  • bkeely
    Posted on February 28, 2011 at 9:59am

    To force unionship is no different than forced healthcare. Give me freedom!
    ——————
    Buck
    Http://www.***************
    Heirloom seeds “how God plants His garden”

    Report Post » TheWatcher  
  • s00yyogurt
    Posted on February 28, 2011 at 9:46am

    Unions are exempted from anti-trust laws. Thank you, Franklin Roosevelt.

    Report Post » s00yyogurt  
    • 13th Imam
      Posted on February 28, 2011 at 11:04am

      I keep on seeing that FDR thought public unions were bad .
      This FDR dude must be one good magician. Think he could help us with our unemployment problem?

      Report Post » 13th Imam  
    • SimpleTruths
      Posted on February 28, 2011 at 1:34pm

      “Unions are a basic human right” – Ronald Reagan, the only President that was a union member and former union chief.

      Report Post » SimpleTruths  
  • psst
    Posted on February 28, 2011 at 9:42am

    Old Louie Farrakhan is right.
    He know that of which he speaks.
    http://www.chicagobreakingnews.com/news/local/chibrknews-farrakhan-mideast-uprisings-will-come-to-us-20110227,0,1665375.story
    Nation of Islam leader Minister Louis Farrakhan predicted on Sunday that America faces imminent uprisings that mirror those in the Middle East

    The time has “Finally” arrived. This is it folks. The nation stands at the cross-roads.
    The Poseur Soetoro is now president, w/ the help of the marxist controlled MSM and marxist controlled unions.
    That ameriKans have been dumbded down by both the communist controlled teacher‘s unions and the 60’s radicals who moved into the universities as professors after their beloved USSR fell was for the very purpose we are now witnessing.
    What sane capitalist country would hire radical communist like Angela Davis as professor and anti-American radicals like Ayers and Dohrn to brainwash their youths?
    Of course we have not been a true capitalist nation for quite some time .
    The shadowy NWO/OWG massas have never had a beter chance in destroying America like they now have.
    That these people were able to get a Poseur like Soetoro elected president tells you the kind of power they have.
    US are at the make or break point. If we cannot break the marxist unions strangle hold on the country, we will implode. Maybe even explode if you get my drift.
    You think the marxist Poseur Soetoro have not stacked the FCC w/ his comrades for the purpose of controlling the internet and talk radio?
    They know that talk radio,Fox and conservative internet sites have given the citizenry the real story. Not the propagandas ABC,CBS.CNN,NBC have been peddling for many years.They have lost their monopoly to propagandize. Why do you think Sen Rockefeller( a Trilateralist) of W.Virgina wishes for a return to the good old days.
    Have the people (of America) degenerated into such stupid zombies that they will side w/ the communists (unions and Soetoro).
    We will soon find out.The Zombies are close to 50% of the nation. Once they reach 60% , the nation is doomed. W/ the increased illegal anchor babies and the hands out lemmings, that %age will soon be reached.
    We must get back to where only property oweners can vote.
    Then again, the government may give all the zombies free homes so they will be considered property owners.
    Revolution coming? Quen Sabe Kemosabe?
    HI YO Silver. Away..
    Who was that masked man?

    Report Post »  
  • vyochum
    Posted on February 28, 2011 at 9:28am

    We the people need to stand strong. This is our time to move forward and take our country back. Weve been silent and ignorant long enough. This was part of the progressive plan. Lets renew Gods plan.

    Report Post »  
  • mickey16
    Posted on February 28, 2011 at 9:26am

    I would love to see this go before the Supreme Court.

    Report Post »  
    • Dale
      Posted on February 28, 2011 at 10:15am

      I would like to see it before any court. It eventually would make it to the supremes.

      Report Post » Dale  
  • football lady
    Posted on February 28, 2011 at 9:24am

    Rock on, Governor Walker! You are a real leader.

    Report Post »  
  • football lady
    Posted on February 28, 2011 at 9:23am

    The unions have not done anything to improve their image. In fact, they are looking worse and worse. Union and Mafia — not much different.

    Report Post »  
  • Rokoll
    Posted on February 28, 2011 at 9:20am

    How do they collectively bargain without the persons actually paying the bills?

    A bargain: : an agreement between parties settling what each gives or receives in a transaction between them or what course of action or policy each pursues in respect to the other

    If its not a “bargain” with the taxpayer, it is theft.

    Report Post » Rokoll  
    • Whostolemypig
      Posted on February 28, 2011 at 9:35am

      Unions are purported to have the rank and file vote as to whether to accept a contract or not. Good deal, now let’s turn that around. When government officials and union bosses settle on a contract, then a public referendum should be held.to allow the taxpayers the right to decide whether or not they are willing to accept the contract.

      I doubt very many outlandish union contracts will be approved by those actually paying the bill.

      Report Post »  
    • Rokoll
      Posted on February 28, 2011 at 10:45am

      I agree, WhoStole.
      The point is, the majority spoke in wisconsin and many other states to repeal these measures and the politicians flee while the unions claim its “unfair”.
      They need to collectively get their heads from thier rear-ends and acknowledge “THEY LOST.”
      better yet, WE WON.
      best of luck to these fools in 2012!
      the Purge Continues in 2012 – GO WEST!

      Report Post » Rokoll  
  • FlyoverConservative
    Posted on February 28, 2011 at 9:17am

    Ever since Obama gave ownership of GM to the Auto Worker’s union, I have been wondering who speaks for the union member now? At GM, the union is now in the management position so who can be looking out for the little guy.

    Report Post »  
  • Star Spangled
    Posted on February 28, 2011 at 9:15am

    THAT”S What I‘ve been say’n ! My dad said it first years ago . He became anti union after being part of the UAW in Detroit . He got out when they started beating up other employees to make them join .

    Report Post » Star Spangled  
  • doncorleone
    Posted on February 28, 2011 at 9:05am

    R.i.c.o.s go all the way to the top, do they not?

    Report Post »  
  • sbenard
    Posted on February 28, 2011 at 9:04am

    My state has been a right-to-work state for decades. I’m grateful for that!

    When I lived in California, I wasn’t compelled to join the union, but I was compelled to pay their dues. They were the most tyrannical bullies I’ve ever known! They threatened me with physical violence and destruction of my personal property. They protected people who were lazy and refused to work. They only “represented” the people who had been union people for decades, but who had no ambition to improve themselves or merit a promotion. They were the most evil people I’ve ever known. They’re tyrants who seek a collectivist government in which we will have equal misery for all, but less misery for their members.

    Report Post » sbenard  
    • spirited
      Posted on February 28, 2011 at 10:51am

      In this day and age of cell phones with cameras and recording abilities, people, hit the record button when these union people ‘talk’ to you.

      >Then send it on to FOX.

      Report Post » spirited  
  • hightide
    Posted on February 28, 2011 at 9:03am

    Le’s see. They are organized and are forcing their opinion on the population, a crime, so yes they are organized crime.

    Report Post »  
  • kickagrandma
    Posted on February 28, 2011 at 9:03am

    Surely, goodness and mercy…sorry, got carried away there. I was going to say before I interrupted myself, “Surely there are some AMERICAN, HONEST (?) lawyers out there willing to do this probono FOR AMERICA to save us!!!” We will be forever grateful!

    Report Post »  
    • sWampy
      Posted on February 28, 2011 at 10:48am

      I think this must be like peaceful Muslims willing to denounce the violence, the idea of a good honest lawyer is a myth, if honest lawyers existed, or peaceful Muslims, some would have stood up and fought the good fight, but sadly none have.

      Report Post »  
    • 13th Imam
      Posted on February 28, 2011 at 10:57am

      How about Mark Levin??

      Report Post » 13th Imam  
  • uncleherbert
    Posted on February 28, 2011 at 9:01am

    This day and time we do not need unions. It will stop 90% of the coruption of politics. Let every man stand on his own worth. Companies want to hire the brightess and healthiest anyway.

    Report Post » uncleherbert  
    • firstlast
      Posted on February 28, 2011 at 9:52am

      Yeah cause criminals like Abramoff were lobbying for the unions…oh wait, no

      Report Post »  
  • Rickfromillinois
    Posted on February 28, 2011 at 8:55am

    I agree. Being forced to join a union, especially in the public sector, seems to violate a workers civil liberties to me. In addition, how did it ever come about that state and local governments, in other the words the tax payer, end up collecting union dues from the worker for the unions? Not only does that cost money in accounting and administration to do so, which again is paid for by the tax payer, but in effect the government is doing the unions work for them. What business does any government have collecting union dues for the unions?

    Report Post » Rickfromillinois  
    • felina g
      Posted on February 28, 2011 at 9:02am

      No kidding ! It`s been going on for decades.

      Report Post »  
    • tower7femacamp
      Posted on February 28, 2011 at 7:31pm

      I am still pissed about being forced to pay for a 1.6 trillion Banker Bailout
      because they decided to sell homes they did not own.

      Report Post » tower7femacamp  
  • CaptainSpaulding
    Posted on February 28, 2011 at 8:55am

    These Unions should have been busted decades ago.

    Voter apathy is costing us – BIG TIME!

    Report Post »  
    • EP46
      Posted on February 28, 2011 at 1:48pm

      Read Michelle Malkin’s article on RICHARD TRUMKA…..

      Meet Eddie York. He was a workingman whose story will never scroll across Obama’s teleprompter. A nonunion contractor who operated heavy equipment, York was shot to death during a strike called by the United Mine Workers 17 years ago. Workmates who tried to come to his rescue were beaten in an ensuing melee. The head of the UMW spearheading the wave of strikes at that time? Richard Trumka. Responding to concerns about violence, he shrugged to the Virginian-Pilot in September 1993: “I’m saying if you strike a match and you put your finger in it, you’re likely to get burned.” Incendiary rhetoric, anyone?

      Go to Michelle’s site to read the rest…. http://michellemalkin.com/

      Report Post »  
  • ErinHaust
    Posted on February 28, 2011 at 8:52am

    Are we sure that guy is from Harvard? ;-)

    Report Post »  
    • Marylou7
      Posted on February 28, 2011 at 9:26am

      Good point, he seems a bit too smart for Harvard.

      Report Post » Marylou7  
    • psst
      Posted on February 28, 2011 at 9:46am

      I had the same thought.
      He must have slipped through the crack.
      Wonder how much longer he will be at Haaavaad?

      Report Post »  
  • Freedom1984
    Posted on February 28, 2011 at 8:50am

    I agree that the Unions are totally out of control. I work for a county office and I AM FORCED TO JOIN THE UNION HERE. (they don’t do anything for me) we can still be fired via, budget cuts…. but they take money out of MY HARD EARNED PAYCHECK AND FOR WHAT? To fund the crap they are doing in Wisconsin right now????????

    Report Post » Freedom1984  
    • MaggieRose
      Posted on February 28, 2011 at 9:25am

      Boy, do I hear you Freedom… the union I am forced to belong do? SEIU… I have tried twice to get rid of the union from within with petitions, and though many “say” they want the union gone, only 3 would actually sign their names to the petitions. So, I continue to post the thuggery/pictures/stories on the SEIU bulletin board and maybe someday enough will be enough

      Report Post »  
    • dawg of gawd
      Posted on February 28, 2011 at 11:13am

      maggierose

      Nobody is forcing you to belong to a union. You don’t like it, find another job. Otherwise STFU.

      Report Post » dawg of gawd  
    • MrButcher
      Posted on February 28, 2011 at 12:15pm

      @Dawg of Gawg

      I thought you valued human rights?

      Maggie is forced to pay tribute to an organization she doesn’t wish to fund in order to provide a livelyhood for herself and your only response to that is “get another job.”

      Shame on you, rat-fink!

      Report Post » MrButcher  
    • DashRipRock
      Posted on February 28, 2011 at 1:05pm

      Then DAWG OF MAUD

      Judging by your statement

      Im sure you wont mind if every State adopts

      RIGHT TO WORK LAWS

      RIGHT?

      Report Post »  
  • NickDeringer
    Posted on February 28, 2011 at 8:45am

    How about RICO violations? Could we make the case?

    Report Post » NickDeringer  
    • cnsrvtvj
      Posted on February 28, 2011 at 8:50am

      I think that is a really solid point. Why would this be any different from organized crime?

      Report Post » cnsrvtvj  
    • Snowleopard {gallery of cat folks}
      Posted on February 28, 2011 at 9:06am

      The main problem with the RICO part is somehow the Fed’s will step in on behalf of the unions and get the motions and indictments crushed under mounds of paperwork and procedures. Nothing will come of them, as much as I wish they would, until the administration is out of office, or the unions are no longer of usage to the administration.

      Report Post » Snowleopard {gallery of cat folks}  
    • GODSAMERICA
      Posted on February 28, 2011 at 9:35am

      @cnsrvtvj – “Why would this be any different from organized crime?”

      There is no difference, the unions are literally nothing more than an arm of organized crime. And these politicians and their cronies are nothing more than crime bosses.

      Report Post » GODSAMERICA  
    • GODSAMERICA
      Posted on February 28, 2011 at 11:15am

      To Jail To Jail Off to Jail the unions go where all criminals belong

      Report Post » GODSAMERICA  
    • takemout
      Posted on February 28, 2011 at 1:16pm

      @J,

      It is organized crime. If this-anti trust idea catches on and states begin to sue the unions for violations of anti-trust laws, the unions will be in for a well deserved defeat.

      Report Post »  
    • SimpleTruths
      Posted on February 28, 2011 at 1:29pm

      @GODSAMERICA
      You do realize Ronald Reagan was a union boss and the only President that was a union member. He said many times unions were a basic human right. Look it up.

      SimpleTruths  
    • tower7femacamp
      Posted on February 28, 2011 at 8:44pm

      Maybe we should use RICO against Goldman Sachs ?

      Report Post » tower7femacamp  
  • @leftfighter
    Posted on February 28, 2011 at 8:45am

    There’s some outisde-the-box thinking for ya…

    Report Post » @leftfighter  
    • MrButcher
      Posted on February 28, 2011 at 9:13am

      great article.

      But to get specific to Wisconsin.

      Walker should offer this compromise to the unions: you can keep all collective bargining rights but you must give us right to work laws. Once union membership becomes optional, watch the flight begin.

      check mate.

      Report Post » MrButcher  
    • Miami
      Posted on February 28, 2011 at 9:31am

      MrButcher

      No that’s how you get teaching programs like Unions and the advances they have done for the common man. Progressive teachings and even teaching Che Guevara as a hero, not the mass murderer he was. They should never be allowed to bargain on teaching material…EVER

      Does anyone want molding children’s minds in the hands of a Union Boss…?

      Report Post » Miami  
    • MrButcher
      Posted on February 28, 2011 at 9:58am

      Miami,

      Once its made clear that paying union dues is not nessasary to holding a teaching job (or any other job for that matter) the unions will be cut off at the knees. The concession of “maintaining all collective bargining rights” isn’t a concession at all. Collective bargaining will be drastically altered once the union bosses are taken out of the equation. The only way to do that is to make union membership optional. Thus, cutting off their forced-dues cash flow.

      If you live in a state that does not have right to work laws and you want to be a pipefitter, a plumber, a teacher etc and there is a Union that represents your trade YOU HAVE TO PAY that union’s dues from your own paycheck in order to keep your job.

      If the Unions want to make this an agruement over “rights” that is fine. Hot damn! That’s the best battlefield to engage them on. They have the “right” to unionize and their members have the right not to take part in the Union, keep the money they had been forced to pay in dues and still keep their jobs without fear of reprisal.

      Unions haven’t always been bad.

      Report Post » MrButcher  
    • Silverline
      Posted on February 28, 2011 at 3:16pm

      v

      Report Post » Silverline  
  • davy440
    Posted on February 28, 2011 at 8:44am

    I agree with every word said. I hope this spreads accross the nation.

    Report Post »  
    • Freedom1984
      Posted on February 28, 2011 at 8:50am

      How can it…when the MSM won’t give people the idea?

      Report Post » Freedom1984  
    • ConsiderThis
      Posted on February 28, 2011 at 10:01am

      It will spread and the public service unions are doomed.
      Bottom line is that the liberals are running out of other people’s money to spend.

      Report Post »  
    • pscully17
      Posted on February 28, 2011 at 10:21am

      do you know how to starve the public sector unions? stop paying taxes. states cant print money…stop feeding the army that then uses the fuel to defeat you… how dumb can Americans be?

      Report Post »  
    • Scorchem
      Posted on February 28, 2011 at 12:33pm

      I agree and I hope the idea gets acted upon. Ban unions and remove their contributions to Obama and company. Undue influence pedaling from Trumpka being allowed by Obama for campaign contributions.

      Report Post » Toastery  
  • Marylou7
    Posted on February 28, 2011 at 8:41am

    Yeah, finally someone with a brain.

    Report Post » Marylou7  
    • cnsrvtvj
      Posted on February 28, 2011 at 8:47am

      @Marylou7 – I couldn’t agree more. This guy is right on the spot with that. These unions control everything now, and it’s all at the expense of the average taxpayer. They always talk about the “little guy” but it’s not. It’s all about control and power.

      http://www.donsmithshow.com – see the Get Hypocrisy Moving video

      Report Post » cnsrvtvj  
    • Snowleopard {gallery of cat folks}
      Posted on February 28, 2011 at 8:49am

      Another avenue I have been on occasion asking about is if the ‘collective bargaining’ rights and the unions themselves are able to be tackled under existing RICO acts?

      One thing we can be assured of is that the fed’s justice department will never go after the unions for any anti trust violations so long as they are in office, and as long as the unions remain a set of the ‘usefull idiots’ they can manipulate and so forth.

      Report Post » Snowleopard {gallery of cat folks}  
    • Cobra Blue
      Posted on February 28, 2011 at 8:50am

      Excellent point…but one BIG problem. The unions have the full support of the Federal government. Until the backs of the unions are broken this idea, or anything like it, of change will have a snowballs chance in Hades of ever happening. Next stop is breaking the backs of the career politicians…Oh..I’m sorry…did I mean that literally or figuratively? I can’t remember. But you catch my drift.

      Report Post »  
    • HillBillySam1
      Posted on February 28, 2011 at 8:52am

      The problem is that all of these things are decided by a horrible three-headed monster: Union Bosses/Politicians/Lawyers……the taxpayers don’t have a chance……

      Report Post »  
    • pscully17
      Posted on February 28, 2011 at 8:59am

      I know I dont trust them!!

      Report Post »  
    • GENZERO
      Posted on February 28, 2011 at 9:05am

      @Marylou7
      Amen to that.

      Report Post » GENZERO  
    • Miami
      Posted on February 28, 2011 at 9:16am

      Liberals/Progressives don’t do well with facts or numbers for that matter, it hurts their brains…

      Just chant and smoke pot, oh yea the drum circles.

      Report Post » Miami  
    • Miami
      Posted on February 28, 2011 at 9:20am

      How long before these stank hype want to be’s turn on the police, I wonder if the officers will turn a blind eye to behavior like we’ve seen in Seattle this weekend…?

      Report Post » Miami  
    • Snowleopard {gallery of cat folks}
      Posted on February 28, 2011 at 9:32am

      @Hillbillysam1

      We have a chance, just need to figure out how to smash all three of them at the same time.

      Report Post » Snowleopard {gallery of cat folks}  
    • DashRipRock
      Posted on February 28, 2011 at 9:34am

      Briliant!

      Barro is the one that gave us the “Misery Index”

      anyway

      TOWERSEVEN

      If you want to achieve a catatonic state.

      read this site explaining Barro’s thesis.
      (and this is just a simple explanation)

      I have a $5 bill that says you cant get through the first paragraph
      before your eyes rolls back in your head

      and you pass out

      aaaaaahahahhaahahaha

      http://en.wikipedia.org/wiki/Rational_expectations

      Report Post »  
    • Miami
      Posted on February 28, 2011 at 9:35am

      Ops, I ment “hippie”

      Report Post » Miami  
    • tobywil2
      Posted on February 28, 2011 at 9:44am

      These problems are not caused by the unions. The problems are caused by the government, allowing unions to initiate intimidation, force and violence against employers. Outlawing unions would be as much an affront to individual freedom as the special privileges the government confers on unions. See the “Automobile Industry Fiasco” click on the following link: http://commonsense21c.com/files/CE-12-14-08-2.pdf

      Report Post » tobywil2  
    • DashRipRock
      Posted on February 28, 2011 at 9:57am

      Toby

      Its a fundamental view

      but the largest element left out is

      Automation kills unions

      ax Toyota

      Report Post »  
    • ishka4me
      Posted on February 28, 2011 at 10:05am

      vitriol. where is ther media? i see signs with terms kill, reload, nazi, target, bullseyes. where is chris matthews, madow msnbc, ny times washington post, time magizene? where are they?

      Report Post »  
    • Stonewall_Jackson
      Posted on February 28, 2011 at 11:36am

      I wonder why it not openly discussed more regarding the similarities between the union and the mob. Just like the mob the union seeks to prosper through intimidation, extortion, threats and so on.

      I say call them what they are. Our current government is of the same mindset so don’t look for any support from them. We all know who the Chicago mob works.

      Report Post » My Hero-Allen West-click my name  
    • SimpleTruths
      Posted on February 28, 2011 at 1:23pm

      I’m really curious how you all feel about the fact that one of your most treasured icons, Ronald Reagan, was a union boss and the only President to be a union member. He was a staunch proponents of unions and said many times “unions are a fundamental human right”.

      Report Post » SimpleTruths  
    • drbage
      Posted on February 28, 2011 at 2:22pm

      WOW! common sense out of a professor at Harvard and Stanford!!! Hope he has tenure or ……

      Report Post »  
    • SLAPTHELEFT
      Posted on February 28, 2011 at 3:33pm

      Out of respect for GW Bush I will ask this question to that hag with the sign:

      Where were you when obamacare was being rammed down the throats of the majority of US citizens who didn’t want that sh*t legislation? How’s it feel you union loafer?

      Report Post » SLAPTHELEFT  
    • SLAPTHELEFT
      Posted on February 28, 2011 at 3:36pm

      Simpletruths?

      So what? What about it? I thought obama was like Reagan? How about this- Thats just a conspiracy theory. You’re a liar! You just hate private sector taxpayers! You want private sector workers to lose their homes and eat dog food on the streets. Why do you hate taxpayers so much?

      Report Post » SLAPTHELEFT  
    • jhaydeng
      Posted on February 28, 2011 at 5:03pm

      Typically a Union Shop becomes ALL Union and not partially as stated. Either an employer is a Union employer or not. I have not seen a hybrid shop, but I have not seen a million dollars either!

      Report Post »  
    • tower7femacamp
      Posted on February 28, 2011 at 6:48pm

      DASH this theory does not account for ENRON, Synthetic CDOS and
      JPMs paper shorting of more Silver than exists on the planet now does it ?
      what is rational about unchecked fraud at the highest levels ????

      cut and pasted as written in Wiki

      Rational expectations theory defines this kind of expectations as being identical to the best guess of the future (the optimal forecast) that uses all available information. Thus, it is assumed that outcomes that are being forecast do not differ systematically from the market equilibrium results. As a result, rational expectations do not differ systematically or predictably from equilibrium results. That is, it assumes that people do not make systematic errors when predicting the future, and deviations from perfect foresight are only random. In an economic model, this is typically modelled by assuming that the expected value of a variable is equal to the expected value predicted by the model.

      Report Post » tower7femacamp  
    • WHITE LOTUS2x
      Posted on February 28, 2011 at 7:17pm

      LOU7: And from Harvard and Stanford too.

      Report Post »  
    • red1
      Posted on February 28, 2011 at 7:21pm

      @DashRipRock how is Barro’s thesis related to the rational expectations model?

      Report Post »  
    • tower7femacamp
      Posted on February 28, 2011 at 7:28pm

      Don’t ask anything logical DASH will just call you names.

      Report Post » tower7femacamp  
    • DisillusionedDaily
      Posted on February 28, 2011 at 7:35pm

      Once the union gets in, right to work state or not, the shop is a union shop. If you think you can work there without joining the union, be prepared for daily flat tires on your auto, anonymous threatening phone calls at any time of the day or night, occasional “accidents” on or off the job and rocks through your windows at home, usually around suppertime. No, you don’t have to join the union!

      Report Post » DisillusionedDaily  
    • RKade
      Posted on March 1, 2011 at 5:53pm

      Indeed a brain and forward thinking.

      Report Post »  
    • Quagaar Warrior
      Posted on March 1, 2011 at 11:08pm

      ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
      They are:
      ~~~~~~~U seless
      ~~~~~~~N on-producers
      ~~~~~~~.I ntent
      ~~~~~~~O n
      ~~~~~~~N ational
      ~~~~~~~S ocialism
      ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

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