Even someone who retired from a career in banking and finance, like this astute blogger, can see this simple, but widely obscured, truth:
Unions were a great threat to business power in the early 20th century but the sad fact is they’ve been co-opted. Since the end of World War II, unions have consistently acted to put down worker militancy and thereby assure the smooth operation of a capitalist system which puts near complete power in the hands of business. It’s a serious mistake to think of unions as an institutional counterweight to oligarchy.