By the time you read this the NYC subway workers may be on strike, while the subway-less city is ground to a halt. I don't know what will happen, since I'm writing this in advance.
It's pretty much accepted economic thinking that strikes rarely, if ever, are a useful tool. Both sides in a negotiation are made poorer, and they do little to bring new information to light that could be helpful.
But a strike among public workers is particularly bad. In this situation the big loser will be the public, who will be unable to get to work, etc. Yet the public is not at the negotiating table; instead it is represented by various officials, and representatives who have little true stake in the outcome. This is the same dynamic as a hostage situation. The hostage stands to lose, possibly get killed, while the hostage-taker negotiates with a third party who stands to lose very little.
Thankfully, I'm heading out of town this weekend, and may not suffer much inconvenience should the workers strike.
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