Posted in Economics & Globalization, Technology & Science, tagged advantage, affluence, Americans, animals, Apple, auto industry, best practices, bottom line, brand-name, buying power, capitalists, CEOs, China, Chinese, Coach handbags, coffee, conscious consumerism, consumer, controversy, corporations, cost effective, cost savings, country of origin, deindustrialization, Dollar, dysfunctional, Economics & Globalization, efficiency, electronics, exploitation, export, factory, fair trade, Forbes, Foxconn, free trade, globalism, goods, Green, Honda, human rights, import, industrial policy, investment, iPad, iPhone, labor, level the playing field, local, loss, made in America, manufacturer, mark-up, market, marketplace, markup, MBAs, middle class, myth, name-brand, New York Times, non-GMO, outsource, overseas, PC, perils of a service economy, policy, premium, price hikes, private enterprise, products, profitability, profitable, protectionism, race to the bottom, rational self interest, reconceptualize, relocalization, renegotiate, responsibility, shame, shifts, shop, shrinking, slave, social contract, solutions, Southeast Asia, standards, Steve Jobs, store-brand, suicides, sustainable, sweatshop, symbiotic, target market, taxes, Technology & Science, Third World, Toyota, trade, underpaid, US, vanity pricing, wealth, workers, zoo on January 31, 2012|
Leave a Comment »
The secret is out: Apple has a worm inching its way through its corporate flesh. January was a tough month on the Cupertino, California company venerated for its innovation and vision.
The controversy emerged when an Apple contractor in China, a manufacturing facility known as Foxconn where many brand-name electronics are assembled largely by hand, made headlines when dozens of workers threatened to jump to their deaths over a labor dispute. Foxconn’s solution? Erect netting beneath roofs and windows.
It doesn’t end there. For 12-hour shifts, six-days-per week and a live-in lifestyle workers allegedly earn just $17, the New York Times reports. Forbes and PC Magazine added their own angle to the news. One such detail described a high-level manager who, at a Chinese zoo, asked a zookeeper to provide advice on how to deal with his workers, drawing a direct comparison between factory workers and undomesticated animals. It gets worse. A NYT piece, “In China, Human Costs are Built into iPad“, refers to two dozen accidental worker deaths that have occurred as a result of unsafe working conditions. Finally, in “This American Life” the narrator of “Mr. Daisey and the Apple Factory” recounts a first-hand meetup with underage Chinese workers, among scores of others who suffer permanent neurological tremors and ticks as a consequence of over-exposure to a chemical toxin.
For all the outrage, many argue such are the inescapable growing pains of a Third World labor force “coming up”. At one time, the United States, too, was known for worker exploitation, a chief reason child labor laws gained traction and unions became a bulwark against corrupt and abusive management practices. And yet, even at the height of the union movement in the US such organizations represented only a fraction of the workforce. Nonetheless, what began as labor negotiating with management to build a viable American middle class has transformed in recent decades to its polar opposite: a perception that unions destroy American prosperity.
(more…)
Read Full Post »
Posted in Economics & Globalization, tagged agreement, austerity, author, billionaire, book, capital, Cassandras, Charlie Rose, competitive, consequences, consumer, contraction, contrarian, controversy, corporate mercantilism, corporations, correction, crash, credible, credit, currencies, dangers, debate, derivatives, disadvantage, disincentive, doomsayers, double dip recession, downturn, Dr. Doom, Economics & Globalization, effects, Elizabeth Warren, export, Financial Modernization Act, financial services industry, financial system, foretold, fragile, free trade, future, gambling, gap between the rich and the poor, GATT, Glass-Steagall Act, globalism, globalization, goldsmith, Gramm-Leach-Bliley Act, Great Recession, grow, hindsight, IMF, incentive, industrialized, international, International Monetary Fund, investments, irrational exuberance, Jeremy Grantham, joblessness, jobs, liberalisation, liberalization, losses, Main Street, markets, meltdown, middle class, NAFTA, nations, new normal, New Trade Theory, Nouriel Roubini, oligarchy, outsource, parity, PBS, pendulum, perma-bear, Peter Schiff, playing field, predict, private interests, protect, reasons, recovery, Reform, regulations, risk, Robert R. Prechter, Robert Shiller, Senator Byron Dorgan, shift, stimulus, stock, struggle, tariff, TARP, theory, trade, trade deficits, trap, treaty, two-income trap, unemployment, volatility, Wall Street, workers, world, World Bank, World Trade Organization, WTO on July 28, 2010|
Leave a Comment »
Giving credit where credibility is due.
Charlie Rose:
How do you see the economy today? The world economy? Where are we?
Answer:
I think the financial system is extremely fragile. I think that you can see it in the volatility of currencies; you can see all sorts of weaknesses. I believe that there is an incredible amount of danger in things like the derivatives. I think that we are moving toward the outer limits of acceptable risk taking. … I think our financial system is dangerous and could create great problems for the real economy. …
— Sir James Michael Goldsmith, billionaire financier, 1994; February 26, 1933 – July 18, 1997
(more…)
Read Full Post »
