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Binding third party interest arbitration

Some people have argued that binding third party interest arbitration should be required to resolve impasses over all contracts (new or renewed contracts). They claim this would be equitable and avoid the social costs of strikes. Evaluate this proposal. What is your opinion?

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Some people have argued that binding third party interest arbitration should be required to resolve impasses over all contracts (new or renewed contracts). They claim this would be equitable and avoid the social costs of strikes. Evaluate this proposal. What is your opinion?
I do not agree with this proposal. The reason is that binding third party interest arbitration hands over the power of resolving an impasse or dispute to a third party. The Decision of the third party is final. The main reason for bargaining is to ensure that the decision making parties get together and decide what ...

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This answer provides you an excellent discussion on Binding third party interest arbitration

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