F. A. Hayek , author of The Road to .Serfdom and Law, Legislation and Liberty, winner of the Nobel Prize for Economic Science in 1974, reflects on the workings of the market economy in a series of three lectures.
3: The Exploitation of Workers by Workers
' The crucial point which is not generally understood is that the powers used by individual trade unions to increase the remuneration of their members all rest on depriving other workers of their opportunities.' In his final lecture Professor Hayek discusses the powers of the trade unions in this country, and argues that our economic recovery will not be complete until the special privileges granted to the unions are revoked.