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Situations like these make me wonder about the Asian family-centric model of business. Many times it is touted as the way for minorities to get out of poverty,

by majani 9y ago

Situations like these make me wonder about the Asian family-centric model of business. Many times it is touted as the way for minorities to get out of poverty, and here it seems to be the case because him and his wife are making out like bandits. However, it seems to be a terrible deal HR-wise where the founder's immediate community are favoured in hiring processes, leading to immense disgruntlement among the workers.

unityByFreedom 9y ago
Nepotism seems fine to me for small businesses. Where is it touted for mature, global organizations? If anything, I believe it's frowned upon, alongside cronyism, despite the fact that it still happens. Of course one certain elected official is trying to make nepotism popular "again", as if it ever was. I can't think of a time when it was, aside from when kings and queens reigned, pre-democracy.
slice_of_life 9y ago
>Many times it is touted as the way for minorities to get out of poverty The reason it is a good approach is that; when you think about poverty, one may go round and round in circles trying to uncover a panacea but it all comes down to productivity. Are a group of people/is a person able to produce goods and services? This (ability) could be hampered by a lack of skills relevant to the current economic environment among other things. To acquire said skills among other inputs, one requires capital. If you consume capital goods, it won't be possible to save up enough to acquire the aforementioned production inputs. Systems like the Asian family-centric one you mentioned earlier allows for 1) creation of capital goods through production and 2) preservation of capital goods through savings and reinvestment over multiple generations. If there's capital for future generations in such a family, then acquisition of the relevant skills in an economic environment that's constantly mutating becomes plausible. It starts with a sense of frugality in a bid to amalgamate capital that can be compounded over generations in the future. Without capital generation and preservation (by the subjects themselves in order to cultivate discipline), you have nothing in terms of wealth creation and poverty alleviation.

by majani 9y ago

unityByFreedom 9y ago

Nepotism seems fine to me for small businesses. Where is it touted for mature, global organizations? If anything, I believe it's frowned upon, alongside cronyism, despite the fact that it still happens. Of course one certain elected official is trying to make nepotism popular "again", as if it ever was. I can't think of a time when it was, aside from when kings and queens reigned, pre-democracy.

slice_of_life 9y ago

>Many times it is touted as the way for minorities to get out of poverty The reason it is a good approach is that; when you think about poverty, one may go round and round in circles trying to uncover a panacea but it all comes down to productivity. Are a group of people/is a person able to produce goods and services? This (ability) could be hampered by a lack of skills relevant to the current economic environment among other things. To acquire said skills among other inputs, one requires capital. If you consume capital goods, it won't be possible to save up enough to acquire the aforementioned production inputs. Systems like the Asian family-centric one you mentioned earlier allows for 1) creation of capital goods through production and 2) preservation of capital goods through savings and reinvestment over multiple generations. If there's capital for future generations in such a family, then acquisition of the relevant skills in an economic environment that's constantly mutating becomes plausible. It starts with a sense of frugality in a bid to amalgamate capital that can be compounded over generations in the future. Without capital generation and preservation (by the subjects themselves in order to cultivate discipline), you have nothing in terms of wealth creation and poverty alleviation.