The author being swede has no idea of the socio economic impacts of companies like Nike on third world countries. I would have to agree that the workers conditions have improved, but looking at the big picture I was alarmed with more and more multinational companies coming in to follow the Nike model all the local companies will be out of business not being able to compete with huge companies like Nike in case of Vietnam as the number of people go and work for companies like Nike few people will work in the farms and which will cause a shortage in basic essentials like food and then companies will take advantage and start selling products bought from other countries at a price more than what the people can pay and this is a vicious cycle . although people might feel that their lives have improved for now they forget to see the big picture and not so far in the distant future they will realize the how they have been exploited .from the beginning of time they are always people who were exploited but as days go by the way that they are exploited gets more and more complicated and by the time people realize it is going to be too late. They are able to get education now and afford better lives for themselves and their families but by completely ruining their countries
Big businesses boomed during this era, however, in business owners efforts to produce more money the working class suffered from unfair wages and working conditions. In Nash’s findings, he reported, “In 1890, the top 1 percent of American families possessed over a quarter of the wealth, and the top 10 percent of American families possessed over a quarter of the wealth, … But wages for the unskilled increased by only 31 percent- a substantial differential that widened as the century drew to a close” (407). Through the economic disparities between classes, it caused unworkable working conditions and unsanitary living conditions. Unskilled workers were often responsible for hard labor jobs, many men worked in coal mines, factories, farms and more. Despite these harsh working conditions workers received minimal wages, resorting themselves and their families to live in tenement houses, crowded, unclean, and disease-ridden housing units.
As a result board members and executives make tons of money at a fast rate. A con is that shareholders will put pressure on the companies to meet their goals, resulting in a “winning at all costs” attitude. Which could mean contaminating ground waters, causing massive unregulated amounts of pollution, and loses of many workers. Another con is workers will not care for their company, they will be overworked and lower level management will have little say in anything, because only shareholders make decisions and higher executives give all orders. Yes I believe it is wrong, even though it's true to this day, employees should have been paid living wages, and should have been treated right for generating so much for the people at the top of the company.
Entrepreneurializing Africa It was Pope Francis that called youth unemployment one of “…the most serious of the evils that afflicts the world these days…” Many believe that extremist groups such as Boko Haram, Al Shabab and IS take advantage of unemployed youths who feel marginalised from the mainstream economy. It is this sense of disenfranchisement that makes them easy prey for terrorists. These radical groups cause untold amounts of bloodshed, devastation, instability and economic decay across the African continent and beyond. Each year 12 million young people enter the job market in Africa . The formal private sector is too small to absorb the growing labour force.
They cannot let them rebel or strike or it will spell the end of all they know. Furthermore, the landowners and bank owners fear the Okies because of their massive population size; they have the power to overpower them. “Okies-the owners hated them because the owners knew they were soft and the Okies strong, that they were fed and the Okies hungry; and perhaps the owners had heard from their grandfathers how easy it is to steal land from a soft man if you are fierce and hungry and armed. The owners hated them.” (Steinbeck 279). The owners and banks know that the only way to keep them from rebelling is to stomp on them, separate them and ensure they are always hungry and without a home.
Moreover, this uneven distribution of wealth has contributed enormously to increased poverty and deprivation in the US. In fact, 1 in 7 Americans today experience hunger and 16 million children live in poverty. Additionally, too great economic inequality prevents the economy from growing. In view of middle-class worker’s reduction or stagnation in salaries, they have less disposable income to spend. Thus, businesses suffer and must cut costs, which inevitably leads to even more reduced revenues for
According to Schmitt (2013), the minimum wage has slight or even no noticeable effect on the employment rate in that the cost generated by minimum wage is large relative to most of the firms. Therefore, dismissal might be a common resolution for reducing their financial commitment and causing the rise of the unemployment rate. Apart from the employment aspect, SMW also affects workers’ health in certain extent. Business profits are the first priority in many businessman’s minds; however,
Kenya subscribes fully to Structural Adjustment Programs (SAP) for development. These have had a negative effect on employment patters especially in the civil service where the SAPs have called for cut-backs on government spending with employment freeze and retrenchment being key strategies. Lending rates are out of reach of many people locking them out of self-employment. The local manufacturing industry including ‘Jua Kali’ sector has also not performed due to competition from cheap imports. Unemployment has many effects on individuals.
Advantage and disadvantage The advantage of the mixed market system is that China has open is market towards foreign business therefore creating job opportunities for their people by doing so it has improve their society and the style of living. Besides that, those citizen who works for the foreign companies will incur a percentage of taxation. This taxation is then uses by the government to develop the country by improving their infrastructure such as roads, telecommunications, and public transportation. Apart from that, China is now the 2nd largest economy in world (Jerry w; 2011), (Nation Master; 2003-2014). The disadvantage that China will face with this mixed market system is that many hundreds of millions of people still remain poor because most of whom live in more isolated interior regions of country away from prosperous coast; therefore creating a gap between rich and poor.
There is a risk of loss of talent and skills, since a great amount of university graduates are unable to find a job and put their knowledge and capabilities into producing innovation and contributing to economic growth. Furthermore, having a large share of the young workforce unemployed, not only leads to reduced productivity and gross domestic product (GDP), it also increases the economic costs for the country, since there is a need for more money to be paid out on social grants and less money coming in from taxes. High unemployment rate also pose as a threat to the safety and security of Gauteng province, youth are most likely to resort to other measures such as