Tuesday, October 18, 2005

screwed

Screwed -- that's how working-class Americans are nowadays. This LA Times article details some of the issues. I guess those workers at Delphi should be happy management is offering them a pay cut from $27/hour to $10/hour -- they COULD be offering to fire the whole bunch of them.

Now these people won't be able to afford the cars they make. Henry Ford's idea for paying his employees is fading fast with competition from workers in China and elsewhere...

I understand the economics of globalization, and the gains to be made for two economies when they engage in trade. Unfortunately, our society isn't doing a better job of allocating those gains across the whole population, nor of supporting those whose jobs are disappearing. Maybe when economists, think-tankers, and journalists begin to see their jobs disappear to India they will change the tune on globalization and free trade. It isn't a win-win game... except for MANAGEMENT at places like Delphi, getting those fat retention bonuses to agree to stay with the company, while they slash the workers' wages.