My guest today is Paul Goodrich. Paul has spent his career organizing labor unions and fighting for labor rights. Today, he is the Vice President of Laborers' Union Local 151, a Massachusetts-based labor union for construction workers. In this episode, he makes a persuasive case for why we need labor unions and shows us the nuts and bolts of how they operate. Coming from Wall Street, which doesn't have the best view of Labor unions, it was very interesting and educative to hear from the other side. Please enjoy this conversation with Paul Goodrich. For the full show notes, transcript, and links to the best content to learn more, check out the episode page HERE. ----- This episode is brought to you by 10 East. 10 East is a platform where qualified investors can co-invest on a deal-by-deal basis across private equity, private credit, real estate ventures, and other one-off opportunities typically unavailable through traditional channels. It's no surprise that founders, executives, and portfolio managers from leading investment firms are using 10 East to diversify their personal portfolios. Their level of sourcing and diligence is institutional grade. To learn more, check out 10east.com. ----- Making Markets is a property of Colossus, LLC. For more episodes of Making Markets, visit joincolossus.com/episodes. Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here. Follow us on Twitter: @makingmkts | @ericgoldenx Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes (00:00:00) Welcome to Making Markets (00:02:45) First Question - Paul's Journey into Labor Unions (00:04:22) The Impact of Labor Unions (00:06:46) Understanding the Mechanics of Private Labor Unions (00:08:10) The Economics of Union Labor: Balancing Wages, Benefits, and Market Dynamics (00:14:34) Perception vs. Reality of Union Labor (00:20:32) The Importance of Unions in Today's Economy (00:28:46) Comparing Unionization Across Industries (00:33:21) Navigating Non-Union Challenges and Political Leverage (00:34:34) The Role of State and Local Legislation (00:35:51) Labor Market Dynamics Post-COVID and the Future of Trades (00:39:10) - The Decline of Private Unions and the Rise of Public Unions (00:46:00) The Complex Landscape of Public Pensions and Financial Sustainability (01:00:49) The Future of Unionization Learn more about your ad choices. Visit megaphone.fm/adchoices