General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThis is going to backfire: $9.35/hour to mint gold coins?
We're running this ad today:
http://cdapress.thejobnetwork.com/job/11705950
There is a company in the town I live in that manufactures bullion coins from silver and gold mined in Idaho. They run four 12-hour crews. You work 12 hours and get off 36. Problem is, they only pay $9.35/hour to the day-shift workers and only $9.85 to the night-shift workers. Even for this town that's low, and most jobs don't come with built-in temptations like these do.
unblock
(52,243 posts)cheaper than sharing fairly.
jmowreader
(50,559 posts)A handful of people get jobs here and learn to make coins. They then find some financial backing and open another mint down the street that pays real wages.
unblock
(52,243 posts)but our brand of so-called capitalism involves tolerating a whole lot of anti-competitive actions.
barriers to entry, for instance, make it hard to get a competitor off the ground. then if competition ever seems likely to come, the established company can lower prices, bind its customers into long-term contracts, force its suppliers into exclusive agreements, etc.
never mind buy off governments, regulators, etc.
unfortunately, the solution the capitalism theorists would have you believe cures anything that's ever wrong with an economy takes years to happen, if it ever does -- and by then the problem that needs solving has changed.
Brother Buzz
(36,440 posts)just as soon as he figures it out.