Moreover, profits are invested leading to an increase in capital: which raises the value of labor, increasing wages. If profits were totally removed, this source of wage increase would be removed. According to "The New York Times", wages in 2012 fell to a record low of 43.5 percent of GDP. Friedrich Hayek argued that the effect of union activities to influence pricing is potentially very harmful, making the market system ineffective. James Sherk argues that unions generally reduce a business's profits by about 10 to 15%, though Sherk notes this is more common in firms that have a competitive advantage (it is hard for unions to reduce profits in a competitive market), as this means these firms have higher than normal profitability, so this redistribution does not risk scaring away investors. However, reducing business profits does reduce the money available for a business to launch new investments. Unions may also hamper recovery from economic recessions and depressions, as they reduce profitability and thus deter the investment required for recovery. James Sherk argues that American states with greater rates of unionization took longer to recover from the 1982 and 1991 recessions, as well as arguing that the unionization that was encouraged under the policies of Franklin D. Roosevelt during the Great Depression actually contributed to reducing the speed of recovery during the period. By causing wage increases above the market rate, unions increase the cost to businesses, causing them to raise their prices, leading to a general increase in the price level. Austrian economists such as Robert P. Murphy, however, dispute this, arguing that the increase in the cost of labor simply means that less of other goods can be bought. He writes:  If unions succeed in wage hikes, and employers raise the prices they charge consumers to maintain their own profit margins, and the supply of money remains the same, then something else has to "give." Either the prices of goods and services in nonunion sectors have to fall and offset the union sector hikes, or people's cash balances need to fall, in terms of their purchasing power. Some trade unions, such as the Teamsters, have been criticized for involvement with organized crime. The argument that unionized workers raise their own wages above their natural rate at the expense of their businesses or other workers assumes that unions never raise productivity to compensate for higher wages. Unions are capable of raising productivity by reducing turnover, by increasing coordination between workers and management, and by increasing workers' motivation. Many unions raise the productivity of their workers, and some even raise it enough to make up for wage increases.