VIDEO: Why unions matter, in a measly 1 minute 19 seconds

chart graph why unions matter

Via Colin Gordon from June 2012:

Author's analysis of Historical Statistics of the United States, unionstats.com, Piketty and Saez (2003), and The World Top Incomes Database (http://g-mond.parisschoolofeconomics....)

The video is from the Economic Policy Institute, and it shows how unions are declining, paralleling the abrupt uptick of income inequality. Gee, what a coincidence... and what a shame, because: "What a difference a union can make!"

Along with the video, Think Progress has three charts also showing why unions matter, including how the income of the richest one percent has risen as middle class incomes drop:

Income inequality is skyrocketing, while worker wages stagnate and more and more people leave unemployment for low-wage, part time jobs. [...]

[L]ike many workers, fast food employees could greatly benefit from the ability to collectively bargain. After all, their minimum wage jobs have actually become worth even less as time goes on. While those one percent of top earners are seeing a great spike in their incomes, the low-wage worker is feeling deflated.

Earlier I posted an L.A. Times reader who suggested, "Instead of tying the minimum wage to state law, let us tie that wage to corporate profits." Twitter pal @vinctee added, "Or CEO pay."

And another of my Twitter followers, @johnncastlerock, tweeted, "Raise to $16/hr and tie annual increases to national productivity. Corp 'profits' too easy to manipulate."

And finally, if you missed it, this is a must-see: A genius made this video, a British guy who calls himself a "Labor geek."