Unions - Essay Example

Unions Louis: The economy is made up of numerous sectors that work together to induce economic growth and development. The labor market is one of the most fundamental components of any given economy due its role of providing human resource to the various sectors of the economy. Economies around the world are characterized by the presence of unions, many of which are based in the labor market. These unions seek to promote the welfare of human resource in order to provide the economy with an efficient, reliable, and effective human capital.

Personally, human capital is an unavoidable factor in any given economy. In this respect, any bid to promote the welfare of human resource in order to enhance the availability of human capital is relevant. In other words, I agree with Louis that unions that seek to promote the welfare of its members are relevant. However, their bid should not be inconsistent with the performance of the labor market and the economy at large. On the same note, the contribution of the human resource needs to be matched with the welfare level that a union pushes for.

Peter presented a disagreement that sought to challenge my welfare argument. He argued that welfare is a realized experience and not necessarily directly advocated for. Peter argued that unions push for better treatment of their members through processes that yield welfare as the final outcome. This opposed my argument that unions directly advocate for the welfare of its members in the social and economic setting. Magdalene added to the discussion, making an intensive and extensive argument as to what exactly constitutes better treatment for union members.

Among the highlighted aspects included safe and secure working environment, fair remuneration and equal pay for both men and women, offering medical coverage to the labor force, and observance of labor rights and freedoms among others. The union advocacy that addresses these elements yields an improved welfare to union members. Caesar questioned the relevance of unions in the social and economic setting. He argued that all they do is make things difficult for many sectors of the economy. When I asked how, Caesar said that unions seek to achieve goals and objectives that do not necessarily reflect the actual picture on the ground.

He gave an example where labor unions will push for worker pay increase, even when that worker’s efficiency and effectiveness at work is declining. Another featured example highlighted that labor unions demand that employers improve employee welfare, even when the labor force does not improve organizational welfare. Stephen closed the discussion by noting that unions are necessary and have a role to play in the economy. His argument touched on the wage level in the labor market and inflation in the economy.

Stephen argued that wages in the labor market rise periodically, as opposed to being responsive to economic variables. He noted that the wage level can remain the same even after a hard hitting inflation in the economy. For this reason, Stephen deemed unions to be essential agents and watchdogs that ensure changes in economic variables do not affect the labor market negatively.