I never advocated removing profits from capitalists. Paying 50 cents instead of 24 cents to Bangladeshi workers is not going to bankrupt those capitalists. Again it goes back to the culture of greed that comes naturally with capitalism. They make $1bn a year; next year they want $2bn. That’s the problem.
The green price tag they showed is exactly as in on the clothes in Sport Direct in UK
I’ve never in these conversation professed any admiration for communism. Reason: it stifles growth and innovation. However, I also loathe capitalism run amok, capitalism without conscience. Moreover, no country is wholly capitalist, socialist, or even communist. Every country has a combination of both.
It’s desperation. Since locals are in dire need to income, they would do anything to get crumbs from the almighty capitalists. Absolving the capitalists like you are doing is dead wrong. Both parties (govt. and capitalists) have roles to play, even more so the capitalists because these countries are so poor that their weak institutions can even enforce anything.
No but it will lower profits thus they will shut down and move elsewhere where they can make the same or higher profit. Keep in mind once it even gets close to where they can make the same profit here in the US they will cease operations beyond our shores and things elsewhere will return to how they were before the jobs were available.
Made in Bangladesh No 1
What am advocating is humane capitalism; capitalism with conscience. Not soulless capitalism.
As always, AE does a great job of journalism. Rare in today’s media.
Excellent meeting..
In a capitalist environment the wages will always be set by the lowest people will take to complete the job. I agree countries should set standards by which minimum wage increases periodically to slowly lift the populace while not unduly burdening the factory owners. This would be a mutually beneficial situation. But Capitalism is about stockholders and profits. What we’re talking about is social welfare which is the job of the local legislation.
I don’t know how the two can combine. Take Starbucks a company long thought of as the model for Capitalism with conscience. As profits slip so does the conscience until soon Starbucks will be no different then their competitors.
It is the Bangladeshi exploiting their own, because the middle men WANT HUGE PROFITs. EXPENSIVE CARS, BEAUTIFUL WOMEN, what is it that the middle men dont want?
Actually it would be better to switch to a flat tax that removes all loopholes and lets people and corporations know what their fixed tax burden will be so they can easily work it into their business plan.
I misread then. However, their lower profit margins is not b/cos they pay a living wage. It maybe due to decline in demand for their product.
I TOTALLY disagree with the piece on taxation. What happened to AJE? You’re blaming government spending? WTH? The real problem is that the tax laws need to be rewritten to ensure corporations pay their fair share. Period, the end.
No I’d was just positing a question. I’m not accusing you of pushing anything other than what you, yourself call for. I also know if there was a way to push social capitalism it would improve the globe.
One of our most popular western wear that we buy in the west is made in Bangladesh. I bought western shirt and the first time I wore it the colour ended up on my chest and back. I checked the label and was totally surprised where it was made. I will never buy that brand again. The western wear in question starts with a W, now you should know which one. The shirt is absolutely garbage..
So perhaps you like the China model of communism. However that seems to be failing and would have collapsed without the large purchases of cheap goods they provide. Without capitalism who should provide the jobs? The state should not be in that position as it leads to tyrannical leadership.
Flash-Back Tirupur,India 1996.
Slave labor doesn’t produce quality products. Capitalist businesses seek out to find the best quality for the best price. They don’t seek out slave labor.
So to remove the profit from the Capitalist, they close or move somewhere else thus leaving those “in dire need to income” without a job. A Capitalist’s sole purpose is profit, not social building. Tell me this America is less then 300 years old, Israel less than 70, so why are these other countries still so poor and weak? Why have they not made the same or greater achievements in social building.
Part of a concerted negative propaganda again…
Lets examine that question. Lets take a hypothetical land called Mudistan. With is so poor people make their homes, etc. from the mud. They are forced to eat insects, rodents and such as their land is so poor. In comes Western civil. to build factories give them jobs which improves their lives and self esteem. At that point is it not incumbent upon their leadership to eventually improve things to the point they no longer need the outside help? Wages must be set by the locality.
Km Ah
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