My guest today is Paul Goodrich. Paul has spent his career organizing labor unions and fighting for labor rights. Today, he is the Vice President of Laborers' Union Local 151, a Massachusetts-based labor union for construction workers. In this episode, he makes a persuasive case for why we need labor unions and shows us the nuts and bolts of how they operate. Coming from Wall Street, which doesn't have the best view of Labor unions, it was very interesting and educative to hear from the other side. Please enjoy this conversation with Paul Goodrich.
For the full show notes, transcript, and links to the best content to learn more, check out the episode page HERE.
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Show Notes
(00:00:00) Welcome to Making Markets
(00:02:45) First Question - Paul's Journey into Labor Unions
(00:04:22) The Impact of Labor Unions
(00:06:46) Understanding the Mechanics of Private Labor Unions
(00:08:10) The Economics of Union Labor: Balancing Wages, Benefits, and Market Dynamics
(00:14:34) Perception vs. Reality of Union Labor
(00:20:32) The Importance of Unions in Today's Economy
(00:28:46) Comparing Unionization Across Industries
(00:33:21) Navigating Non-Union Challenges and Political Leverage
(00:34:34) The Role of State and Local Legislation
(00:35:51) Labor Market Dynamics Post-COVID and the Future of Trades
(00:39:10) - The Decline of Private Unions and the Rise of Public Unions
(00:46:00) The Complex Landscape of Public Pensions and Financial Sustainability
(01:00:49) The Future of Unionization
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