Essay about Cheap Labor - 1025 Words

Cheap Labor Economic growth has always been the greatest interest of the world. Any studies and researches are done to improve the economy of Third World Countries. Unemployment rate and underpaid cheap labor is a big problem that the most of the Third World Countries face today in our global village. Unemployment rate of a nation affects the affordable living of local people because they are not able to afford healthcare, education, and proper housing for their family. Being unable to afford healthcare, education and housing, would negatively affect condition of the employees to perform their task at work efficiently. Furthermore, it would not ensure the upbringing of the children to be the leaders of next generation. Due to the high†¦show more content†¦After all globalization was not meant to solely benefit multinational corporations. As of today’s status, there is exploitation of the labors in third world countries by foreign and national corporations. Local people in these c ountries are being forced to compromise, or perhaps, learn to adapt to this unfair conditional change. Multinational Corporation that move in to third world countries are becoming huge barriers to economic growth because it is exporting raw materials, natural resources, away from them. Yet, the profit is going toward the foreign corporations who operate their business. Cheap labor must be regulated through reformations in laws so that this exploitation and the displacement can be stopped Increase in unemployment rate is cause by the cheap labor in third world countries because illegal immigrants quietly accept minimum wage. For instance, in United States, many illegal immigrants are attractive to employers. They will accept at any wage. Which they do not get health or other benefits and if they complain it is very easy to fire. Sometimes employers it is an abused form of labor. Even minimum wage is attractive to workers from countries whose standard of living is a fraction of ours. It is not â€Å"cheap labor.† It may be â€Å"cheap† to those who pay the wages, but for the rest of us it is clearly â€Å"subsidized† labor, as we taxpayers pick up theShow MoreRelatedThe Effects Of Cheap Labor Bad Jobs At Bad Wages1113 Words   |  5 Pagesarticle â€Å"In Praise of Cheap Labor Bad jobs at bad wages are better than no jobs at all†, Paul Krugman Professor of economics at MIT, explains that child labor cannot just be wiped away like so many ot her distasteful practices. That it takes a perfect storm of economic success and low child labor numbers for a full transition to labor laws that ban it. Employers will agree to follow the law; similar to what happened in the U.S. in the 1930’s when Congress passed the Fair Labor Standards Act. This ActRead MoreThe High Cost of Cheap Labor10249 Words   |  41 PagesCenter for Immigration Studies The High Cost of Cheap Labor Illegal Immigration and the Federal Budget By Steven A. Camarota August 2004 1-881290-43-3 Center for Immigration Studies 1522 K Street, N.W., Suite 820 Washington, DC 20005-1202 Phone (202) 466-8185 FAX (202) 466-8076 center@cis.org www.cis.org 1 Center for Immigration Studies About the Author Steven A. Camarota is Director of Research at the Center for Immigration Studies in Washington, D.C. He holds a master’s degreeRead MoreThe Development Of Virgin Lands Required Cheap Labor Essay1213 Words   |  5 Pagesworld was slavery. Since the fifteenth to nineteenth centuries, slavery was a means through which the whites subject the black people of color into oppressive states. â€Å"The development of virgin lands required cheap labor. Defenseless Africa then became the readymade reservoir†¦ to draw that labor force† (Diop 24). 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