"How do U.S. firms compete in the global economy?" asked UC Berkeley economist Harley Shaiken. "If the only way to compete is with $10 wages, we have a problem that is much larger than just Delphi. We're looking at a society where people exit rather than enter the middle class."Are we facing a future in which our technological prowess will establish, once and for all, an era of worldwide prosperity; or will our children find themselves thrust into a world in which they will truly have to trust in God for their daily bread?
Tuesday, October 18, 2005
I like to be in America...
In the Los Angeles Times' article (registration required), U.S. Labor Is in Retreat as Global Forces Squeeze Pay and Benefits, David Streitfeld provides a possible glimpse of the future as he outlines the impact of offshoring jobs, that were once firmly planted on American soil, to countries such as China and India. From the article, regarding the recent problems at Delphi Corp.: