Trade unions remain the most tangible and most effective way to reduce inequality. Unionised work-places tend to have fairer, more transparent and more equitable pay models, which provide pay increases year by year for workers above inflation. They redistribute wealth from the surplus value created by workers that would otherwise go to profits (or dividends and executive pay) to workers’ wages. However, as unions have weakened, and union density throughout the economy has weakened, all workers have suffered. Low pay has become more prevalent, inequality has grown, and contracts have returned to the more “flexible” model of the nineteenth century. […]
