This is a good example of the majority of economic thinking, without the humanist chatter which is most often added to express some caring nature. I read the Post, and ask How the Answers could be so critical without provision of additional information. I need a Spreadsheet containing the specific Production Costs and their alteration over time. Here are some of the Questions I would like answered:
1) Has the Cost of Labor been rising in relation to total Production Costs in the industries discussed? Or has it been decreasing in percentage terms?
2) Were the Pension funds involved fully funded, and if not, why was there not adequate funds sat aside?
3) Has the Pay Packages to Management absorbed any reduction of Labor Costs which might have occurred over the extended Period of Time, and if so, how much was absorbed?
4) Has the debt of such industries increased over the Period, and if so, was that debt raised to fulfill Labor Costs or Pension benefits derived from that Labor?
5) Is there indication that Management has been paying themselves excessive Pay Packages, possibly coming from refusal to fully fund Pension funds?
There are many more Questions which could be asked about each industry or organization cited in the Post, but the only element consistent in the past history is a steady reduction of Tax revenues coming from such enterprise; though Peter sought to mention the inability of Labor to pay for the Government services deemed necessary in the Government agencies discussed. This bothers me somewhat, as I wonder Why Labor Costs must always seem to pay for themselves, while Tax Cuts are never required to pay for themselves in increased Production, or does Management fees see need to be justified; this in a context where they are the fastest increasing Production Cost across almost every industry. lgl