Thursday 15 November 2007

Krugman's "In praise of cheap labour"

Please feel free to get mad at me in the comments, but I think that Krugman has a point when when he says that: "As long as you have no realistic alternative to industrialization based on low wages, to oppose it means that you are willing to deny desperately poor people the best chance they have of progress for the sake of what amounts to an aesthetic standard--that is, the fact that you don't like the idea of workers being paid a pittance to supply rich Westerners with fashion items". Full article here.
Um, we do need some credible alternatives... The fate of the lumpenproletariat is a very real concern and maybe "bad jobs at bad wages are better than no jobs at all". Do we really place our hopes in the moral fibre of capitalists, states and consumers?

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