tag:blogger.com,1999:blog-7895164153505105997.post7201587462766037062..comments2024-01-17T00:45:37.075-08:00Comments on Bud Meyers: Without Jobs, We'll have to Redistribute the WealthBud Meyershttp://www.blogger.com/profile/02065020063363023395noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-7895164153505105997.post-36829255329131016782013-11-06T03:18:48.426-08:002013-11-06T03:18:48.426-08:00Bud, you are right about the off-shoring of better...Bud, you are right about the off-shoring of better-paying jobs to foreign countries. But it is not the type of jobs that Nike shifts to low wage countries. Nike used to hire a lot of workers in China, but when wages rose to 2 dollars an hour, it moved the factories to Vietnam and Indonesia where workers are paid 50 cents an hour. The same thing happened for apparel manufacturers, where factories are shifted to Bangladesh.<br /><br />The real high wage jobs are actually moving to India, where e.g. IT engineers cost 30% less than for Americans (http://blogs.wsj.com/cio/2013/11/01/the-morning-download-cost-of-temporary-it-workers-rising-in-wake-of-infosys/) . India doesn't do much in terms of manufacturing or producing anything, but it targets all the high skill service industries of Western countries. Once, India used to provide basic computing and call center off-shoring services. Now it aims to take the high end and highly paid jobs in consulting and not just in IT, but in legal, medical, and other professional services; as well as research, from workers in Western countries. <br /><br />So, at the low-end, we lose high numbers of lower paid manufacturing jobs to an endless pool of workers in low wage non-English speaking countries. At the high-end, we are being squeezed out of the skilled services jobs by workers in India who are proficient in English. <br /><br />http://timesofindia.indiatimes.com/tech/careers/job-trends/Top-global-IT-firms-have-more-staff-in-India-than-home-nations/articleshow/25280494.cmsAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7895164153505105997.post-20188855963005443822013-11-02T15:11:26.131-07:002013-11-02T15:11:26.131-07:00NEW YORK TIMES:
More than four years into an eco...NEW YORK TIMES: <br /><br />More than four years into an economic recovery, poverty and unemployment remain elevated, while the income gains from economic growth have flowed almost exclusively to the top 1 percent of earners. Yet the pressure for reductions to programs for low-income groups has not subsided, with possible cuts to food stamps and federal unemployment benefits moving to the top of Congress’s agenda. The danger, as always, is that Republicans will pull Democrats in their slipstream, winning their agreement to cuts that are deemed acceptable simply because they are not as harsh as Republicans demanded.<br /><br />http://www.nytimes.com/2013/11/02/opinion/budget-grief-for-the-poor-and-jobless.html<br />Bud Meyershttps://www.blogger.com/profile/02065020063363023395noreply@blogger.com