Even if they were slightly more cautious than management, if they were less cautious than policymakers it could still be net negative due to unions’ lobbying abilities.
Granted, in principle you could also have a situation where they’re less cautious than management but more cautious than policymakers and it winds up being net positive, though I think that situation is pretty unlikely. Agree the consideration you raised is worth paying attention to.
Even if they were slightly more cautious than management, if they were less cautious than policymakers it could still be net negative due to unions’ lobbying abilities.
Granted, in principle you could also have a situation where they’re less cautious than management but more cautious than policymakers and it winds up being net positive, though I think that situation is pretty unlikely. Agree the consideration you raised is worth paying attention to.