
#419 - In Defense of Capitalism...and Sweden's Covid Response (w/ Johan Norberg)
The Fifth Column
The impact of unionization and global competition on job production and retraining
The heavily unionized workforce in this place caused production costs to be higher than anywhere else, including the American South. They were overconfident and didn't care about competition until Japan and China entered the global economy and introduced better production methods. However, there are still challenges in retraining workers for new jobs, which is more of a social policy issue.
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