John Stuart Mill and The Economic Rationale for Organized Labor

  title={John Stuart Mill and The Economic Rationale for Organized Labor},
  author={John T. King and Mark A. Yanochik},
  journal={The American Economist},
  pages={28 - 34}
The Classical School of economics is generally credited with providing the ideological foundation for the study of labor unions in the United States. In particular, one passage from Adam Smith's Wealth of Nations is believed to be the catalyst for the systematic study of organized labor. Smith and other classical economists wrote extensively of “labor's disadvantage” with capital, which allowed for unfair negotiations between workers and management. In this paper, we suggest that, although Adam… 
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