Labor unions in the american economy: An analytical survey

Study of labor unions again is moving to the forefront of economists’ attention. This resurrection of interest stems from two sources. First, econometric studies indicate that the impact of unions on wages is varied. Further, the absence of theoretical foundation for analysis of labor unions now is appreciated widely. But recent developments in theories of agency, of public choice, and of property rights promise progress toward a better model of labor unions. That model built, the impacts of unions can be ascertained. Allen Dalton and Don Leavens provided able research assistance.