Unionization can only enable workers to capture more of the producer surplus; it can&#x27;t fundamentally reverse a case of extreme oversupply.<p>For rough numbers, an epically good adjunct union might secure a 50% pay raise. But sane PhD pay rates would have to be something like 2x what they are now for it to be a viable career path for high-IQ white collar professionals. And that requires the supply to (take an economic hint and) contract.