Buffett’s profits are not tied exclusively to low wages stateside; his Wal-Mart earnings are a result of paying the lowest garment wages in the world, according to labor rights advocates. Wal-Mart has started moving some of its garment factories out of China, where garment workers have been making the princely sum of $147 per month, to Bangladesh, where monthly earnings total $64, the lowest wage of its kind. In this world of farce these wages are linked to Bangladesh’s low literacy rate—55 percent. Had workers only acquired educations, the master thespians of farce would say, wages would be higher.
in the time remaining, to help us understand how the man-made system of capitalism will lead to the extinction of our human species, and so many others.
Saturday, August 7, 2010
Buffett, Gates, Rockefeller and the Conscience of the Very, Very Rich
by Carl Ginsburg from CounterPunch. Ah, the wonderful lives of charity-giving capitalists--icons of an unselfish ruling class! However, there do seem to be some contradictions.