Inflation is the great destroyer
In the summer of 1981, the American air traffic controllers’ union PATCO rejected a salary and benefits deal that had been put forth by the Reagan administration. What happened next lives on in the annals of Republican lore and in labor movement horror stories: PATCO opted for an illegal strike. More than 12,000 air traffic controllers walked off the job, and in one of the most successful union-busts in history, Reagan fired almost all of them. That’s the official account anyway. But there’s much more about the strike that’s less known, or at least misunderstood. For example, did you know that PATCO had actually endorsed Reagan for president in 1980, finding Jimmy Carter too intransigent?
