111–120 of 157 posts
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They don't want to have problems with current US administration and Trump wants factories, so they give him factories.
Meaning the automation starts as soon as Trump leaves.
the room. The automation starts as soon as Trump leaves the room after giving himself his little back pat.
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"Well above" isn't super meaningful. I believe Wal-mart's minimum pay is 9/hr and most employees are closer to 12-13. That's not going to be a livable wage in many areas. Add in that half of those are part time and not getting employee supplemented health insurance and it gets less livable.
Walmart has a national minimum of $10 an hour the federal minimum is $7.25. I consider a roughly 25% premium to be a significant increase when talking about salaries. My comment is in regards to these jobs paying minimum wage and the evidence leads me to believe that it is virtually certain that these jobs will pay a significant percentage more than that. (not to mention all the managerial and skilled labor jobs that…
>"This is a great day for American workers and manufacturers and everyone who believes in the concept and the label 'Made in the USA,' " said an ebullient President Donald Trump at the White House announcement." Why is this great for American manufacturers exactly? I'm guessing Trump doesn't know that Foxconn is a Taiwanese company? That sounds about right.
Foxconn has more factories in China than in any other country and their largest factory is in Shenzhen. The implied "Made in USA" vs "Made in China" is fair.
Foxconn has factories around the globe but they are a Taiwanese manufacturer not an American manufacturer, they are traded on the TWSE:
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The subsidy is $1.5B for 13,000 jobs. The other half of the subsidy is for capital investment and construction expenses. It's still a huge number though.
The article states that: "At $3 billion for 13,000 jobs, the Wisconsin deal would cost $231,000 per job." By comparison, economists have estimated $125K/job-year to $202K/job-year from the 2009 stimulus (ARRA). [1] [1] https://files.stlouisfed.org/files/htdocs/publications/revie... , page 3
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>This whole late stage capitalism transition is going to be painful. The phrase "late stage capitalism" is one I've seen crop up only in the last year or so, and mostly in the context of the subreddit of the same name. Can you recommend some reading outside of that subreddit? I find the subreddit's content narrowminded to the point that I thought it was satire at first, but I'm open to the topic in general. Especiall…
Capital In The Twenty First Century: https://www.amazon.com/gp/aw/d/B00I2WNYJW/ The Economics Of Inequality: https://www.amazon.com/gp/aw/d/B013HZ8U0G/ Debt: The First 5000 Years: https://www.amazon.com/gp/aw/d/B00Q1HZMCW/ Boomerang: Travels in the New Third World: https://www.amazon.com/gp/aw/d/B005CRQ2OE/ The Global Minotaur: America, the True Origins of the Financial Crisis and the Future of the World Economy: htt…
I haven't read it since undergrad, but he broke up the stages of capitalism in three parts, with the earliest being a free market capitalism up until the mid 19th century, then monopoly capitalism up until around WWII, and late capitalism following that era. It is dominated by a pervasive industrialization that is fairly unrestrained by national borders and a global culture centered around mass consumerism.
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>This whole late stage capitalism transition is going to be painful. Still preferable to the cannibalism and human rights abuse currently occurring due to late stage socialism in Venezuela.
Scandinavian quality of life is very nice, better than the US, and is socialistic in nature. Socialism can and does work.
$3 billion in subsidies for 3,000 jobs. http://www.jsonline.com/story/news/2017/07/26/scott-walker-h...
Keep in mind that it's tax rebate, so Wisconsin is not getting any of that if they didn't lure foxconn to them in the first place. Taxpayers are actually not funding any of this. The money is effectively taken from wherever foxconn was gonna build this factory, like China, or Mexico.
Today if you buy an LCD monitor from Foxconn, they have to pay ~5% Wisconsin state sales tax. Under this deal, they get the rebate. So, taxpayers are paying with revenue they would otherwise have gained.
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>This whole late stage capitalism transition is going to be painful. The phrase "late stage capitalism" is one I've seen crop up only in the last year or so, and mostly in the context of the subreddit of the same name. Can you recommend some reading outside of that subreddit? I find the subreddit's content narrowminded to the point that I thought it was satire at first, but I'm open to the topic in general. Especiall…
Marxists think they have a total understanding of society and economy. They don't see the future as uncertain, but rather as a series of inevitable steps that proceed towards a global communist state of society where human nature no longer applies and people are no longer self-interested. So they've got this weird verbal tic where they discuss present events as though they're historical events. After all, when you kn…
Until 300 generations back, all of human society was "a global communist state of society". Over the past 300 generations, domination by an idle class of heirs over the working people of the world has spread.
How is "a global communist state of society" a place where "human nature no longer applies", when that was the only form of society at all 10,000 years back to the dawn of humanity, whereas the current dominant economic system has only been predominant for the past few centuries, and has endured massive crises, recessions, revolutions, depressions etc.?
$3 billion in subsidies for 3,000 jobs. http://www.jsonline.com/story/news/2017/07/26/scott-walker-h...
$3 billion in subsidies for 3,000 jobs. http://www.jsonline.com/story/news/2017/07/26/scott-walker-h...
I see a lot of people focusing just on the 3k jobs, but isn't building the multi-billion dollar plant going to inject some good money and jobs into the economy as well?