However, New School economist Richard Wolff says the proposed restructuring is a bigger gamble for autoworkers who have agreed to trade their health care funds for risky shares in the revamped companies.
(The story summary continues below.)
Wolff says the many union givebacks – especially the prospect of new younger workers hired at about half what older workers now make – could have dire consequences for the larger American economy as fewer and fewer workers can afford a middle-class lifestyle.
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