alt Hacker NewsThis is something that has just never sat well with me. How exactly will the union provide this insurance? That insurance isn't free, so paid for by member dues? How many members are required to be able to afford the payout for just one member? How about the other services unions are touted as being able to provide? They all come from the same dues? I know that unions will put money into investment funds to attempt to grow the coffers, but that just means the money isn't liquid.
Unions are always touted as a panacea, but logically, it doesn't compute for me. They feel more like ponzi schemes than anything else.
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> This is something that has just never sat well with me. How exactly will the union provide this insurance? That insurance isn't free, so paid for by member dues?
That is how all unions were born.
> That insurance isn't free, so paid for by member dues?
Yes, obviously. That's how every insurance works.
Simple idea: look how other unions work, and in other countries as well. The wheel has already been invented.
that's definitely a big question and i don't pretend to have enough expertise to answer fully; however, i will point to the Ontario Teacher's Pension Plan which is (per Wikipedia[1]) "one of the world's largest institutional investors [...] over $266 billion in net assets, with a one-year total-fund net return of 9.4%, and a 7.4% 10-year total-fund net return". the union runs their own investment fund; it's an extension of collective power into the financial realm.
https://en.wikipedia.org/wiki/Ontario_Teachers%27_Pension_Pl...