Labor unions

A small quote to honor this day of the working man:

Labor unions do not even know how to raise real wages. All they are concerned with is raising the money wages and protecting the jobs of the members of their particular union. Since labor unions do not control the quantity of money or volume of spending in the economic system, the only way that they can raise the money wages of their members is by artificially reducing the supply of labor in their field. But the effect of this is to correspondingly increase the supply of labor and reduce wage rates in other fields. In other words the success of any given union is obtained at the expense of the loss of wage earners in the rest of the economic system. And the losses necessarily outweigh the gains, because an essential aspect of the process is workers being forced into jobs requiring less skill and ability than the jobs from which they are expelled. (#)

The French protests are the ultimate culmination of the power of the labor unions. All law protecting strikes and union power should be abolished immediately. No-one would miss them in the not-so-long long-run. No-one.