Economic Effects Of Labor Abuse - 1267 Words

Economic Effects of Labor Abuse Many companies state that labor exploitation is necessary in order to increase corporate profits however; the amount of increased profits is small. According to David Barboza (2008), a writer for the New York Times and winner of the Pulitzer prize for international reporting, â€Å"In 2007, factories that supplied more than a dozen corporations, including Wal-Mart, Disney and Dell, were accused of unfair labor practices, including using child labor, forcing employees to work 16-hour days on fast-moving assembly lines, and paying workers less than minimum wage. (Minimum wage in this part of China is about 55 cents an hour.)† The amount of savings seems huge with minimum United States wage around eight dollars an hour; however, very little of the price increase makes it to the consumers. According to B. Powell and M. Zwolinski (2011), professors at the University of Boston and San Diego respectively, estimate that â€Å"for US and Mexican firms, a 100% wage increase would o nly require a 2–6% increase in the retail price of the garments. U.S. consumers were generally willing to pay between 15 and 25% more to ensure that products were not made under sweatshop conditions.† The small amount of price increase to the consumers illustrates how companies will not be significantly affected by the increase in labor cost, since the exploitation of laborers is only for a small personal gain the conditions in which people work need to be more strictlyShow MoreRelatedAnalysis Of The Book Stiglitz A Recipient Of The Nobel Prize Economics, And Andrew Charlton930 Words   |  4 PagesStiglitz, a recipient of the Nobel Prize in Economics, and Andrew Charlton, a fellow economist, propose a new, radical solution to world trade problems – a solution that brings equilibrium to the trading relationships between the poorest and richest countries. The book contains an in-depth, college level understanding of fair trade and its theoretical application s on third world countries. With regards to theoretical applications, the book elaborates on the proposal, which is fair trade, and howRead MoreNike Positive And Negative Effects Of Globalization1367 Words   |  6 Pagesthe technology it takes to improve the process by which products can be manufactured more cheaply grows, globalization grows as well. It is supported by advancements in technology. These changes can have both short-term and lasting effects on issues surrounding economics, politics, the environment, and human rights. Thanks to globalization, companies like Nike are able to transform themselves. In Nike’s case, from a small local company to a global sports shoe and apparel superpower and a globally-recognizedRead MorePresident Fdr : A Nation s Economic Status Is A Great Responsibility That Its Government Has1259 Words   |  6 Pagesa country’s economic status is a great responsibility that its government has. In America during the 1930’s, the G reat Depression spreads its economic disease to Americans, and as a result, many citizens become jobless and homeless. While Americans are under economic depression, little has been done by the government to ameliorate the situation. However, President FDR is the MVP during the Great Depression as he brings economic prosperity and well-being to America by reforming economic relations,Read MoreSlavery And The United States1690 Words   |  7 Pagesforms of modern slavery are human trafficking, forced marriage, and forced labor. According to Employee Relations Law Journal â€Å"slavery is where ownership is exercised over a person, where individuals are coerced into providing their services or do so under threat of a penalty.†(Whincup, Garbett, McNicholas Spring 2014 65) Human trafficking is the act of capturing a person with the intention to sell and/or abuse them for economic gain. There are three types of trafficking organizations: small localRead MoreDrug Testing in the Workplace1739 Words   |  7 Pagesprevent risks to the greater public caused by substance abuse while on the job. However, others believe that the costs far outweigh the benefits and that it is an invasion of privacy. Putting all ethical issues aside, evidence presented in this paper supports the latter. The costs of drug testing are excessive and only a small percentage of employees are actually found to be substance users. Drug testing in the work place has a negative effect on productivity; contrary to what was originally intendedRead MoreThe Problem Of Child Sex Trafficking1746 Words   |  7 Pagesthe humanitarian work in which many people around the world are involved. Threats to the well-being of children are numerous. In addition to many living in less than stable fa milial environments, children today are continually forced to face the effects of a conflict filled society, regardless of their country of origin. Creating an environment that extends beyond safety and includes meeting their basic need for food, love, and nurturing continues to be a goal. This must remain a goal as childrenRead MoreViolation of Child Rights1704 Words   |  7 Pagesresolution 44/25 of 20 November 1989 and entry into force on September 2nd 1990. The Convention spells out the basic human rights that children everywhere have: the right to survival; to develop to the fullest; to protection from harmful influences, abuse and exploitation; and to participate fully in family, cultural and social life. The four foundation principles of the Convention are non-discrimination; devotion to the best interests of the child; the right to life, survival and development; and respectRead MoreFranz Kafkas Novella, The Metamorphosis Essay1199 Words   |  5 PagesEngels economic theories in mind, reveals an imposing metaphor that gives the improbable story a great deal of relevance to the structure of Marxist society. Samsa, the protagonist, signifies the proletariat, or the working class, and his unnamed manager represents the bourgeoisie. The conflict that arises between the two after Gregors metamorphosis renders him unable to work represents the impersonal and dehumanizing structure of class relations. Kafkas prose emphasizes the economic effects onRead MoreThe Dominican Republic-Central America-United Stats Free Trade Agreement1218 Words   |  5 Pages(RTA) have remained fairly consistent. Along with the prospects of economic growth and development, countries aim to achieve economic and social stability, poverty reduction, and an increase in labor provisions. As with many developing countries, RTAs encounter a wide range of complications that hinder economic prosperity. In some cases, RTAs that are formed with good intentions by countries who seek growth come to have a negative effect on a country within the agreement. The following essay will provideRead MoreZimbabwes Struggle For Human Rights Abuses1420 Words   |  6 Pagesmarket, there is a plethora of minerals waiting to be mined. Within Africa’s southern region, Zimbabwe has found diamonds to be a vital commodity in sustaining the country. In order to reach these minerals, mining companies must find a steady supply of labor to mine and sort the diamonds before they are later â€Å"sold rough† in wholesale to dealers, distributed to be cut, polished, and turned into jewelry at manufacturing plants, and marketed by retailers to finally be sold to customers. (Levin, 2014, p.24)