Welcome. I started this blog for my economics students, but any other fans of economics (and science or history) are welcome. My goal for this blog is to provide background on current events. Hopefully, the links to interesting newspaper articles, videos, data, books, web sites, and research will convince you that economics is fascinating and relevant to your life.
Tuesday, January 31, 2012
Working conditions in China, what is fair?
1 minute video from Aug 2010
NYT (1-26-2012) Apples ipad and the human costs for workers in China by By Charles Duhigg and David Barboza
The above article describes working conditions in an ipad factory in China. The question for today is "How much should U.S. companies lower standards on working conditions and environmental protection in their factories abroad?"
Some viewpoints to consider,
1. At the turn of the 20th century, working conditions in factories in the U.S. were not so different from those described in the article. Should this phase be considered a right of passage that countries must slog through on the way to an advanced economy?
2. Some companies are already bypassing China for cheaper labor in nearby places like Vietnam and Malaysia. In another 100 or so years, when all countries have reached a minimum level of wealth, perhaps this problem will resolve itself.
Another 3 minute video from June 2010 (embedding disabled):
http://youtu.be/t6ekAvcd1lU
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