Please unpack this... I don't have a subscription. Very counter-intuitive.
On 3/15/12, michael perelman <michael.perelman3 at gmail.com> wrote:
> The Wall Street Journal has an interesting article today, which
> begins, " More Asian governments are pressing businesses to hike wages
> as a way to prevent outbreaks of labor unrest, raising the specter of
> higher manufacturing costs for global companies -- and the products
> they sell world-wide."
>
> The problem is that people in Asia lack the necessary naiveté to make
> capitalism work efficiently; i.e. to maximize exploitation.
>
> "Political leaders say they have little choice but to act, as voters
> grow savvier about wage gains" elsewhere, which they can research on
> the Internet. Recent protests by low-income workers in places like
> Indonesia and Thailand have added to pressure on governments to raise
> wages."
>
> "There is a genuine feeling that the low-wage segments [of Asia's
> population] haven't made much progress in recent years" as the gap
> between rich and poor has widened in some areas, said Edward Teather,
> an economist at UBS in Singapore."
>
> What is wrong with Americans that they can be bamboozled to think that
> the current neoliberal policies are constructive of anything more than
> more of the same?
>
>
> --
> Michael Perelman
> Economics Department
> California State University
> Chico, CA
> 95929
>
> 530 898 5321
> fax 530 898 5901
> http://michaelperelman.wordpress.com
>
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