Thursday, May 06, 2004
Why I'm no fan of unions
The Greek hotel workers union is threatening to strike during the Olympic games if their demands aren't met. Not only will their extortion cause problems for visitors, but it will affect every other company in Greece who has a vested interest in the success of the Olympic games.
The article notes that hotel workers are "low paid," as they take home a monthly salary of around $743. That sounds REALLY bad, until you realize that Greece's per capita GDP is around $11,000. Yes, they are below average (by about $2000 a year), but hotel workers AROUND THE WORLD get less than the average, and I bet the differential is MUCH higher in America.
Greece's real problem is its inability to do much to take advantage of membership in the EU. I would suggest that hyperactive unions devoted to extorting money when the situation enables it are NOT the way to pull Greece out of its economic backwater.
The Greek hotel workers union is threatening to strike during the Olympic games if their demands aren't met. Not only will their extortion cause problems for visitors, but it will affect every other company in Greece who has a vested interest in the success of the Olympic games.
The article notes that hotel workers are "low paid," as they take home a monthly salary of around $743. That sounds REALLY bad, until you realize that Greece's per capita GDP is around $11,000. Yes, they are below average (by about $2000 a year), but hotel workers AROUND THE WORLD get less than the average, and I bet the differential is MUCH higher in America.
Greece's real problem is its inability to do much to take advantage of membership in the EU. I would suggest that hyperactive unions devoted to extorting money when the situation enables it are NOT the way to pull Greece out of its economic backwater.
