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Barradas, R. (N/A). Financialisation of workers and the erosion of trade union density in the European Union. Economic and Industrial Democracy. N/A

R. P. Barradas,  "Financialisation of workers and the erosion of trade union density in the European Union", in Economic and Industrial Democracy, vol. N/A, N/A

@article{barradasN/A_1787789453952,
	author = "Barradas, R.",
	title = "Financialisation of workers and the erosion of trade union density in the European Union",
	journal = "Economic and Industrial Democracy",
	year = "N/A",
	volume = "N/A",
	number = "",
	doi = "10.1177/0143831X261474648",
	url = "https://journals.sagepub.com/home/EID"
}

TY  - JOUR
TI  - Financialisation of workers and the erosion of trade union density in the European Union
T2  - Economic and Industrial Democracy
VL  - N/A
AU  - Barradas, R.
PY  - N/A
SN  - 0143-831X
DO  - 10.1177/0143831X261474648
UR  - https://journals.sagepub.com/home/EID
AB  - The erosion of trade union density has been a stylised fact for the last five decades all over the world, which has been contributing to a strong deterioration of labour conditions, a dizzying loss of labour rights, a proliferation of exploitative labour practices and a persistence of high levels of income inequality. Our argument to explain this puzzling paradox of worsening labour conditions yet strong de-unionisation or non-unionisation emphasises that this is due to the financialisation of workers. On the one hand, workers’ financial wealth stimulates de-unionisation or non-unionisation because they are more financially secure, more aligned with the interests of capital, perceive fewer benefits from unionisation, adopt an owner-like mindset, occupy well-paid managerial positions, and experience a greater alignment of interests with employers. On the other hand, workers’ financial indebtedness encourages de-unionisation or non-unionisation because they are more financially vulnerable and risk-averse, focus on job and income stability, concerned with avoiding the social stigma from financial default, and are more inclined to individualism and self-interest rather than collective solidarity. This article aims to address the relationship between the financialisation of workers and trade union density by employing a panel data econometric analysis focused on all the countries of the European Union from 1995 to 2023. We find that the financialisation of workers negatively impacts trade union density, especially via financial assets due to their being more widespread among workers than are financial liabilities, and more pronounced in those countries of the European Union with the highest levels of financialisation of workers. We also confirm that the financialisation of workers, alongside the decline of industrial employment and the surge of trade openness, has indeed been one of the main factors behind the erosion of trade union density in the European Union in the last three decades.
ER  -