Thursday, August 8, 2013

Compete in a Global Economy ?

What does it mean to compete in a global economy? Are we competing for wages? Many other countries around the globe have a low waged working class ,are we trying to compete by developing a class of workers here in the U.S.? If so the median annual income in China  converted to dollars is $10,900. The median annual income in India after taxes is $735.

Large corporations outsource employment to other countries because economically it makes sense to higher employees who will work longer hours for lower wages. If you think about it is the  representative with the foreign accent that calls during dinner time to remind you your balance is pass due really "Joe" from "Idaho"?

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