Essay about Cheap Labor

1025 WordsAug 14, 20085 Pages
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 countries 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 “cheap labor.” It may be “cheap” to those who pay the wages, but for the rest of us it is clearly “subsidized” labor, as we taxpayers pick up the
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