this will have the negative externality that there won’t be any dockworkers
That’s not an externality, it’s an...internality? Is that a word? The people who would be harmed are the people who are demanding dockworker labor. If this is a big enough problem for them, then they’ll be willing to pay more.
can’t you say the same about the fishery? the people who would be harmed are the people who are demanding fish from the lake. if it’s a big enough problem for them, then they’ll be willing to get up earlier and fish for longer.
the collective bargaining is the way that the future harm is brought into the present.
since the harm is in the future, it’s at remove. someone else’s problem. an externality!
the situation would be different if it was easy to scale up and down the number of laborers just by inputting more money. but it’s not—it takes investment of time through training. for example, air traffic controllers require six years of study.
That’s not an externality, it’s an...internality? Is that a word? The people who would be harmed are the people who are demanding dockworker labor. If this is a big enough problem for them, then they’ll be willing to pay more.
can’t you say the same about the fishery? the people who would be harmed are the people who are demanding fish from the lake. if it’s a big enough problem for them, then they’ll be willing to get up earlier and fish for longer.
the collective bargaining is the way that the future harm is brought into the present.
since the harm is in the future, it’s at remove. someone else’s problem. an externality!
the situation would be different if it was easy to scale up and down the number of laborers just by inputting more money. but it’s not—it takes investment of time through training. for example, air traffic controllers require six years of study.