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When Spending Units Become More and More Heavily Dependent on Payments

question 57

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When spending units become more and more heavily dependent on payments from others, the risk of multiple defaults


Definitions:

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Landrum-Griffin Act

The Landrum-Griffin Act, also known as the Labor-Management Reporting and Disclosure Act of 1959, is a US law aimed at regulating labor unions' internal affairs and their officials' relationships with employers.

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The abuse of entrusted power for private gain, often resulting in unfair advantages, bribery, and undermining the integrity of systems.

Union "Bill of Rights"

The protections afforded to union members within their organization, often enshrined in national labor laws or union constitutions to ensure fairness and democratic processes.

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