2 ms·
Apparently, it is now illegal in the US to account for a worker as a low fixed cost capital asset, and instead we must treat all workers as a higher variable co
by ci5er 11y ago
Apparently, it is now illegal in the US to account for a worker as a low fixed cost capital asset, and instead we must treat all workers as a higher variable cost fungible commodity input. This makes a big difference on how one treats that piece of economic production equipment. (Or "cog in the wheel", we might call it?)
In any case - it's horrifying. I know that the US can't do much about mandating working conditions in factories in other countries. And we can't do much (this is in reaction to a comment ITT asserting that the shareholders shouldn't get their return until this is taken care of) about companies that are not headquartered (nor traded) in the US. (LG is, as you know, not an American company)
That said - this is one of those things that the company's liability insurance should be for. I don't know the mechanics involved, but it seems as if as a condition of importing a product into the US for retails sales, then one could ask for an annual report of claims: Number of factory workers, # of injuries; # of claims; # of settlements; amounts (in number of year equivalents of their normal salary). This could probably be avoided by shell company arrangements, so it may be both bureaucratically onerous and hard to enforce fairly.