Trade union

A trade union (British English / Australian English / New Zealand English / South African English / Caribbean English; also trades union), labour union (Canadian English), or labor union (American English) is an organization of workers who have come together to achieve common goals such as protecting the integrity of its trade, improving safety standards, achieving higher pay and benefits such as health care and retirement, increasing the number of employees an employer assigns to complete the work, and better working conditions. The trade union, through its leadership, bargains with the employer on behalf of union members (rank and file members) and negotiates labour contracts (collective bargaining) with employers. The most common purpose of these associations or unions is "maintaining or improving the conditions of their employment". This may include the negotiation of wages, work rules, complaint procedures, rules governing hiring, firing and promotion of workers, benefits, workplace safety and policies.

Bernie Sanders

Bernard "Bernie" Sanders (born September 8, 1941) is an American politician and the junior United States Senator from Vermont. He is a candidate for the Democratic nomination for President of the United States in the 2016 U.S. presidential election. A Democrat as of 2015, Sanders had been the longest-serving independent in U.S. congressional history, though his caucusing with the Democrats entitled him to committee assignments and at times gave Democrats a majority. Sanders has been the ranking minority member on the Senate Budget Committee since January 2015, and previously served for two years as chair of the Senate Veterans' Affairs Committee.

Sanders was born and raised in the New York City borough of Brooklyn and graduated from the University of Chicago in 1964. While a student, he was an active civil rights protest organizer for the Congress of Racial Equality and the Student Nonviolent Coordinating Committee. After settling in Vermont in 1968, Sanders ran unsuccessful third-party campaigns for governor and U.S. senator in the early to mid-1970s. As an independent, he was elected mayor of Burlington, Vermont's most populous city, in 1981, and was reelected three times. In 1990, he was elected to represent Vermont's at-large congressional district in the U.S. House of Representatives. In 1991, Sanders co-founded the Congressional Progressive Caucus. He served as a congressman for 16 years before being elected to the U.S. Senate in 2006. In 2012, he was reelected with 71% of the popular vote. During the 2016 presidential primaries, Sanders became the first self-described democratic socialist and first Jewish American to win a presidential primary of a major party, namely the New Hampshire primary.

Milton Friedman

Milton Friedman (July 31, 1912 – November 16, 2006) was an American economist who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory and the complexity of stabilization policy. With George Stigler and others, Friedman was among the intellectual leaders of the second generation of Chicago price theory, a methodological movement at the University of Chicago's Department of Economics, Law School, and Graduate School of Business from the 1940s onward. Several students and young professors that were recruited or mentored by Friedman at Chicago went on to become leading economists; they include Gary Becker, Robert Fogel, and Robert Lucas, Jr..

Friedman's challenges to what he later called "naive Keynesian" theory began with his 1950s reinterpretation of the consumption function. In the 1960s, he became the main advocate opposing Keynesian government policies, and described his approach (along with mainstream economics) as using "Keynesian language and apparatus" yet rejecting its "initial" conclusions. He theorized that there existed a "natural" rate of unemployment, and argued that employment above this rate would cause inflation to accelerate. He argued that the Phillips curve was, in the long run, vertical at the "natural rate" and predicted what would come to be known as stagflation. Friedman promoted an alternative macroeconomic viewpoint known as "monetarism", and argued that a steady, small expansion of the money supply was the preferred policy. His ideas concerning monetary policy, taxation, privatization and deregulation influenced government policies, especially during the 1980s. His monetary theory influenced the Federal Reserve's response to the global financial crisis of 2007–08.