Reuters columnist David Cay Johnston breaks down how federal business regulations on labor unions can result in a lack of jobs and damage the economy.
You know around -- army here it's nice to get packages delivered to your door but if you understand why the American economy isn't so much trouble. Let's look at how government policy treat this company differently than this company. They're both in the business of having trucks pick up packages. Put them on airplanes and deliberately with trucks to your home. Federal express is regulated under the national what it way act. Which makes it virtually impossible for employees before reunion. UPS is organized under the national labor relations act and most of its workers belong to the Teamsters. The result well the Teamsters say their members make twelve to eighteen dollars an hour war. In salary and fringe benefits than people at FedEx. The biggest problem -- comment right now is lack of demand workers don't make enough money and enough workers don't have jobs. To sustain the economy. A big reason for that. Is that companies like -- that get special treatment. Have persuaded congress that making them beyond equal footing -- their competitors. Would damage the economy overall. All the data are pretty clear. Corporate profits have been going through the rough and worker wages have been flat to declining. So if you want to understand. How -- economies in the troubled -- It's not market economics. -- top congress sets rules that treat competing companies very differently. And in this case to the disadvantage. Of the workers.