Quote of the Week: The Law of Unintended Consequences

If you’re not careful when moving the invisible hand, it will smack you in the head.

Gary, if that’s his name.

I find that to be a more poetic phrasing than the standard version, here.

The context is a discussion on a paper that finds that “a successful unionization vote significantly decreases the market value of the company even absent changes in organizational performance” . I’m a little perplexed at the qualifier, though, I would have thought it made more sense without it i.e. lower market value because of worse organizational performance. I spout enough libertarian ideology here that I don’t have to explain my views on unionization, do I? Except to qualify the standard position by saying that they were undoubtedly needed when they were first formed, they simply perform far too few additional benefits when one already has fairly comprehensive worker safety/welfare laws. Perhaps they’re still a necessity in most states of India( although not Kerala, I think).

I know it’s been a while, I just hate using this computer!


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