Lecture 12. People: Cheaper Labour

This is the first lecture concerning the global transaction involving people and labour. This session is devoted to the Issue of "cheaper labour" and begins by considering the many current arguments about cheaper labour and their accuracy and in particular the nature of some multinational corporations' interest in labour cost . The basics of labour cost are explained. In the global political economy, it is not only wages, which attract trade but also reduced cost in worker health and safety and other indirect compensations. The session ends with a review of the attempts to reduce labour exploitation in the global political economy.

12 slides

1. Current Arguments about Cheaper Labour

2. How Accurate are these Arguments?

3. Labour Cost - the Basics

4. Definition of Labour cost - World Bank

5. Hourly Compensation Costs Production Workers in Manufacturing - 2004

6. Employers' Cost for Dismissal number of weeks wages

7. Health Loss Compensation Costs Apartheid South Africa 1973

8. Infamous 1991 "Dirty Industry" memo from L. Summers then a World Bank Chief Economist onetime Chief Economic Advisor to President Obama

9.Trade and International Competitivity

10. Global Trade and Labour Cost Political Problems

11. Trade with china Cost Jobs in every State of USA 2001-2007

12. Current Attempts to Correct Global Exploitation