Economics in Broadway Songs: Unions and Bargaining in Billy Elliot
Why Does "Solidarity" Matter?
Why would Solidarity be important for unions when bargaining? We learn about that with the help of Solidarity in Billy Elliot, the Musical.
Unions have more bargaining power when striking if the workforce is solidly behind the actions and everyone is on strike. The reason is it harms the firm, forcing a quicker negotiation. Learn about this and how it relates to bargaining theory in this video. This is part of a series of videos I'm dropping highlighting economic lessons from Broadway songs.