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"Rising labor costs", what happens in the future when the world is fully developed and these co's run out of developing countries with cheap labor to exploit?
by shaneprrlt 7y ago
"Rising labor costs", what happens in the future when the world is fully developed and these co's run out of developing countries with cheap labor to exploit?
- mxuribe 7y agoUnfortunately, there will always be someone to exploit. Capitalists have a clever way of "evolving" to always be able to capitalize on someone/some group.
- toasterlovin 7y agoAt least capitalists can feed people.
- mxuribe 7y agoOh, they can...but the market forces that they follow tend not to incentivize the feeding of people unless there is some gain in it for them. /s Seriously though, I acknowledge and thank you for your opinion, but respectfully disagree.
- shaneprrlt 7y agoI believe you mean to say some "grain" in it for them. /badpun
- mxuribe 7y agoAwesome! :-)
- toasterlovin 7y agoDisagree all you want, but I can walk into any grocery store in America and get a day’s worth of we’ll balanced nutrition for under $3.
- kevingadd 7y agoDoes "full-time employees at companies like Amazon or Walmart often can't afford food and rely on government assistance to eat" count as capitalists feeding people?
- cmoscoe 7y agoPrices rise.
- dsfyu404ed 7y agoIncreased automation and industrialization reducing the need for human labor to make the product.
- bilkoo 7y agoBy exploit, do you mean offering them jobs that pay higher than local average? Or that developing countries have weaker institutions for labor laws?
- frank_nitti 7y agoNot OP, but probably just the dictionary definition of the word "exploit", to use a resource for one's own benefit. If there are business models that cannot function without this particular resource, what will become of them? They aren't paying "higher than local average" out of the goodness of their hearts. If they were, shareholders wouldn't be too happy.
- okmokmz 7y ago-None of the workers received a copy of their work contract – a violation of Vietnamese law. -Women work under high noise levels that exceed Vietnamese regulatory limits. -All workers reported extreme fatigue and dizziness or fainting at work. -Workers reported that miscarriages are extremely common—even expected. -Workers must stand throughout their 8-to-12-hour shifts and many are kept on alternating day and night shift schedules, regardless of weekends. -Pregnant workers usually stand for the entire shift to avoid having the company deduct money from their wages for taking breaks. -More than half of the interviewed women have children, but company dormitory rules prohibit them from living with their mothers. The children live with family members in another town or city. -Workers reported problems with bone, joint, and leg pain. -Workers’ lives are controlled inside and outside of work and they are restricted from speaking about work because of fear of reprisals. -The need for further research regarding chemical exposure is necessary. Despite the fact that workers are stationed in open factory settings where other workers use a variety of substances, they did not consider assembly line work a chemical risk. Sounds like exploitation to me https://ipen.org/news/samsung-workers-line%c2%a0unique-report-reveals-lives-vietnamese-women-workers-making-samsung-smart https://ipen.org/news/samsung-workers-line%c2%a0unique-repor... https://www.usatoday.com/story/opinion/2018/03/14/your-cool-new-samsung-smartphone-brought-you-noise-pain-miscarriages-pham-digangi-column/397173002/ https://www.usatoday.com/story/opinion/2018/03/14/your-cool-...
- ThomPete 7y agoOutsourcing is the step before automation
- SpicyLemonZest 7y agoWhat happens in the future when the entire world is rich and everyone has a bunch of money? I dunno, but I'd argue that by definition it's nothing particularly bad.
- dangerboysteve 7y agoI'm guessing the question is rhetorical but ... robots.
- ASalazarMX 7y agoPeople get paid more, products cost more, people consume proportionally less and expect their products to last more than six months.
- throwaway66920 7y agoProbably violent protests and war as economic opportunity shrinks to an ever smaller elite class of wealth.