1/2 I had thought that James' second point is a good argument for the merits of unions relative to minimum wages (which only compress wages at the bottom) but... https://twitter.com/jdcmedlock/status/1302098718720630786

2/2 if you accept the search/Hosios justification for minimum wages then logically you should accept a similar justification for a maximum wage (once you allow for heterogeneity in bargaining power), which would also address James' point without unionisation. So..

3/2 I think arguing for unions as complements to or even substitutes for a system of minimum and maximum wages probably rests on Hayekian information arguments

(I expect this thread will appeal to a maximum of one of my not so many followers)