About this Event
Talk Details:
Economic insecurity has emerged as a key lever in the appeal of populist and authoritarian movements. This makes economic security—what creates it and what destroys it—the central concern of this work. In particular, the role of organized labor in generating wealth is a core focus, since wealth functions as a form of insurance against the instability of market economies.
This talk (and paper) explores the multifaceted role of labor unions in enhancing workers' economic and retirement security, as well as their health—often beyond what would be expected given the jobs and industries in which unionized workers are concentrated. Drawing on longitudinal data, the research demonstrates that union membership significantly increases workers’ net wealth by directly improving access to employer-provided retirement plans and aiding in debt management. Unions also enhance wealth indirectly by improving job security and generating a wage premium. These effects are particularly strong for workers in the bottom half of the wealth distribution, but they also extend to the next 40 percent.
The health benefits of union membership arise from collective bargaining for safer working conditions, comprehensive health insurance, and employment stability. Critically, unions allow older workers to retire on their own terms, rather than being pushed out due to age discrimination, physical decline, or shifts in consumer demand and macroeconomic conditions. These findings underscore the protective function of unions as institutions that buffer workers from the rising risks of downward mobility in later life—showing that unionized workers are more likely to retire when they choose to, not when the labor market discards them.
About Teresa Ghilarducci:
Teresa Ghilarducci is an economist and nationally recognized expert in older worker labor markets and retirement security. She is the Bernard and Irene Schwartz Chair of Economic Policy Analysis at the New School for Social Research and Director of the Schwartz Chair of Economic Policy Analysis Her nationally acclaimed 2024 – Work, Retire, Repeat: The Uncertainty of Retirement in the New Economy – unpacks the economic myths about the positive effects on health, wealth, and productivity of working longer. She is the author of 5 other books, and coauthor and editor of 3 others. She has published over 75 refereed journal articles; testified in Congress over 10 times and was appointed by two governors and one President to serve on advisory boards. For 15 years she was a trustee for a $60B retiree-health plan for 1 million retired auto workers. She advises policy makers to create pension plans – Guaranteed Retirement Plans - for all Americans – 70 million workers have nothing but Social Security. The U.S. Government Accountability Office (GAO) identified GRAs as one alternative to overhaul the U.S. retirement system. And during the financial crisis of 2008, the New York Times Magazine named the GRA Plan one of the best ideas of the year.
She has a PhD from the University of California, Berkeley. Before coming to The New School in 2008, taught for 25 years at the University of Notre Dame in South Bend Indiana.
Event Venue & Nearby Stays
West Hall, 1000 Cady Mall, Tempe, United States
USD 0.00
