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Why do lower labor cost in the other countries lead to job loss in the US?
Lower labor costs in other countries led to job loss in the United States because it is more cost efficient, the lower wages makes it less costly to have the same amount of workers.
Why do lower labor cost in other countries lead to job losses in the US?
Lower labor costs in other countries led to job loss in the United States because it is more cost efficient, the lower wages makes it less costly to have the same amount of workers.
What did David Ricardo argue happens when workers received higher wages?
David Ricardo argued that when workers receive higher wages, it can lead to an increase in the labor supply. This, in turn, may result in diminishing returns to labor, as more workers enter the market, potentially driving down wages over time. Additionally, higher wages can also lead to increased demand for goods, which may boost production but could eventually lead to inflationary pressures. Overall, Ricardo believed that higher wages could have complex effects on the economy, balancing between improved living standards for workers and potential negative impacts on employment and prices.
What was Fordism?
Fordism was a business approach named after Henry Ford, where companies used mass production ( creating mass standardized units ) to lower prices, therefore being able to increase the wages and decrease the hours of work for workers. This "better treatment" of workers lead to better productivity and a constant flow of new workers ( for mass production ) which in turn contributed to the lower prices. Because of mass production, he workers would be able to specialize in a certain area, also contributing to the increase of productivity which ultimately lead to the increase in the development of the company.
What did David Ricardo ague happens when workers received high wages?
David Ricardo argued that when workers received high wages, it could lead to an increase in the population, as higher wages would incentivize families to have more children. This increase in the labor supply could eventually drive wages back down to a subsistence level, as more workers would compete for jobs. Consequently, while higher wages might temporarily improve living standards for workers, the long-term effect could negate those benefits as the labor market adjusts.
In what sizes of particle the aggregate are deficient or oversupplied?
In fine aggregate, particles smaller than 75 microns can lead to deficiencies in properties like workability and affecting the water requirement, while an oversupply of particles smaller than 75 microns can lead to problems like excessive bleeding and segregation. In coarse aggregate, an oversupply of very fine particles (dust) can affect workability and may lead to a lower strength of the concrete due to reduced paste content.
How did Milton Hershey feel about his workers?
Milton Hershey was known for caring about the well-being of his workers. He provided them with good wages, housing, and recreational facilities to improve their quality of life. Hershey believed that happy workers lead to a successful business.
Why does globalization lead to a reduction in prices for goods and services?
Competition for jobs drives down wages, which helps companies lower their prices.
How were wages or pay affected by the Black Death?
Black Death caused people to panic. It caused them to work at even lower wages in order to get food.
Why does globalization lead to a reduction in wadges in developed countries?
Globalization can lead to a reduction in wages in developed countries primarily due to increased competition from lower-wage countries. As companies seek to cut costs, they may outsource jobs to regions where labor is cheaper, putting downward pressure on wages domestically. Additionally, the influx of cheaper imports can lead to a shift in demand away from local goods, further impacting job security and wage levels. This dynamic can create a race to the bottom, where workers in developed nations face stagnant or declining wages as businesses adapt to a more globalized economy.
What is elimination of unions?
The elimination of unions refers to the process of disbanding or restricting labor unions, which are organizations that represent workers in negotiations with employers over wages, working conditions, and other employment-related issues. This can occur through legislation, anti-union policies, or employer actions aimed at undermining union activities. The elimination of unions can lead to reduced bargaining power for workers, potentially resulting in lower wages and diminished workplace protections. Critics argue that this undermines workers' rights, while proponents may claim it promotes business flexibility and competitiveness.
What is the term used to describe the group of people who believed that immigrants willingness to work for low wages robbed natives of jobs and higher wages?
The term used to describe this group of people is "nativists." Nativists often argue that immigrants' willingness to accept lower wages creates competition for jobs, which they believe undermines the economic stability and wage levels of native-born workers. This sentiment can lead to anti-immigrant attitudes and policies aimed at restricting immigration.
