According to History.com, early trade unionism “…harbored a conception of the just society, deriving from the Ricardian labor theory of value and from the republican ideals of the American Revolution, which fostered social equality, celebrated honest labor, and relied on an independent, virtuous citizenship.”
The first unions were local, cropping up in artisanal trades during late colonial times. Some sources say the first strike occurred when journeymen tailors in New York protested a wage reduction in 1768 before the United States had gained its independence from England. Early unions represented skilled laborers, set prices for their work, advocated for a 10-hour workday, and focused on the immediate material interests of their members.
Industrialization changed the face of America and that of unions. Rather than pursuing the immediate interests of members, unions were formed to advocate for equal rights through labor reform. By the end of World War II, collective bargaining had become standard practice in the industrial economy. In the early 1950s, about 34 percent of workers belonged to unions.
Today, unions have less clout than they have had in the past. From 1975 to 1985, unions lost five million members. By the end of the 1980s, less than 17 percent of American workers belonged to unions. In 2009, that had fallen to 12 percent. Will the labor unions continue to lose steam or will it regain momentum? It depends on the choices made by American workers.
If there is one lesson history teaches, it is change is inevitable. The same is true of your portfolio. Over time, investment performance may alter your asset allocation. Please contact us to schedule a review of your portfolio and we can work together to see what kind of change, if any, is necessary to maximize your interests and goals. Answers from AZ
No Individual should assume that any information presented or made available on or through this website should be construed as personalized financial planning or investment advice. Personalized financial planning and investment advice can only be rendered after engagement of the firm for services, execution of the required documentation, and receipt of required disclosures. Please contact the firm for further information.
“Ranking and/or recognition by unaffiliated ratings services and/or publications should not be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if the firm is engaged, or continues to be engaged, to provide investment advisory services, nor should it be construed as a current or past endorsement of the firm by any of its clients. Rankings published by magazines, and others, generally base their selections exclusively on information voluntarily submitted, prepared and submitted by the recognized adviser.”
“Zuraw Financial Advisors, LLC (“Zuraw”) does not recommend and/or endorse advertising linked to Zuraw’s website or blog posts (WomenMoneyandDivorce.com or ChicksChatandChange.com). Nor does Zuraw make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to the Zuraw website or incorporated herein and takes no responsibility, therefore. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly. Zuraw may receive compensation from third parties to advertise on the firm’s website and blogs. Zuraw does not share client’s personal information with any third parties, either affiliated or non-affiliated with Zuraw.”