How do union strikes affect the overall impact on a business or corporation (i.e. employees, profit, etc.). Is this beneficial to the overall success of the economy?

Answer 1

Union strikes are not good for the economy. They lower productivity and ironically demand wage increases for past levels of productivity. Unions formed to make working easier, by improving working conditions. Most businesses have improved to the point that they know how to make conditions better for workers, as these measures greatly boost productivity and increase a company's bottom line. Unions, not surprisingly, are fading away as their reason for being is disappearing.