And how many workers in the US belong to a union?
This is a red herring anyway. What are the real costs to businesses because of these so-called "worker protections"? It's a rounding error compared to what companies spend on actual labor costs, marketing, and executive compensation.
The banks, GM, and Chrysler should have been allowed to go bankrupt. The economy would have been hit a lot harder than it was, but the market would have adjusted and we'd be better off today.
In a true free market, capitalist economy, businesses that make bad decisions fail and make room for new businesses, no matter how big.
Too bad there's no such thing as a true free market. What needed to happen was to bail out the banks to avert a global economic meltdown, then then they needed to be broken up and never be allowed to grow that big again.
The government (both Bush and Obama) didn't let that happen and poured money into failing companies because they were "too big to fail". GM and Chrysler DID go bankrupt, even after the bailout and the auto industry is doing fine.
The bailout allowed GM and Chrysler to meet some debt obligations prior to seeking Chapter 11 protection. IOW, at least some other companies benefited from it.Furthermore, were it not for the bailout, those two companies might have had to file for Chapter 7 bankruptcy.
Even if GM had disappeared, those auto workers would have gone to work for Ford, Toyota, Honda, or any of the other successful car manufacturers in the U.S..
And why would they hire these workers? Is business really that booming for the other manufacturers? Would their business be booming if GM stopped building automobiles altogether? If that's the case, this only shows that the free market cannot sustain itself without causing and realizing economic catastrophes. The free market is simply too stupid to control its own supply and demand without wreaking havoc whenever it needs to correct itself.
That's the very reason why government controls need to be put into place. Why allow people to suffer needlessly in the name of letting economic catastrophes to occur as if it's some sort of "natural course" of the free market.