arbitrage

Egyptians Revolt - Rubin's Folly and Labor Arbitrage

By Numerian
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The forces of globalization are increasingly and in surprising places and ways under attack. Globalization did not happen by accident; it was the result of policies put in place by people with a particular agenda.

Matt Stoller, a former policy advisor to Rep. Alan Grayson, has posted this morning his insights into the Egyptian Revolution – insights that are quite different from the usual take on these events. They can be found here at the Naked Capitalism blog managed by Yves Smith.

Stoller dismisses the fanciful praise of social networks as a driving force behind the revolution – a story the mainstream media are plugging rigorously. He focuses instead on the participation of young men and women who labor anonymously in the new cheap-labor factory mills set up in Egypt under the direction of Gamal Mubarak, the president’s son and anointed successor. These are the workers who organized the first protests – who responded at great risk to the call for demonstrations, who continued to occupy Tahrir Square despite the provocations from the government, and whose focus on civil liberties was motivated by the repressive police tactics used by the government to enforce the discipline demanded by the mostly-foreign corporations that run the labor mills.

Friday Movie Night

hot buttered popcorn

It's Friday Night! Party Time!

Time to relax, put your feet up on the couch, lay back, and watch some detailed videos on economic policy!

This week, I found some original reports on worker displacement through insourcing from the 2003-2004 time frame. Insourcing is when corporations bring over cheaper labor via guest worker Visas and displace US workers. In other words, the jobs exist, US workers are simply swapped out for cheaper counter parts. I think to believe it, and get your head around this practice, you just plain have to see it.

This story rarely gets out but when you see the real people this is happening to, it makes the unbelievable real. It is real.

Green Collar Jobs

We've heard a few buzz words on the campaign trail about green collar jobs but what exactly is behind the rhetoric?

Green For All is a nonprofit looking to create a green economy not only as a way to stop global warming, but also as a path to economic justice for the economically disadvantaged.

FANTASTIC! A multi-dimensional solution that would:

  • Create New Industry
  • Generate American Jobs
  • Increase US exports
  • Reduce energy imports
  • Reduce Global Warming

US investment initiatives certainly could create a new industry to bring about economic fairness, especially for US domestic diversity.

Alas, there is a hitch.

While these think tanks claim green collar jobs cannot be outsourced, oh my, think again!