Grad Students = Employees ?

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Since I'm at a private school, there's been a lot of buzz this week about the NLRB decision. I know a lot of the people I know in the humanities are quite excited as well as some of the STEM grad students. I'm of mixed feelings - on one hand I definitely like the idea of maybe getting more benefits and not being subject to surprise unilateral decisions from the administration but on the other hand I always get iffy about how collective bargaining agreements may affect my work.