REL 0811 Lecture Notes - Lecture 4: Sweatshop, Risk Premium, Offshoring
22 Oct 2017
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Nike is everything that"s wrong with the us economy. The former secretary of labor on america"s stagnant wages and the multinational corporations exploiting them. Tomorrow president obama will be giving a speech promoting the trans-pacific. Paradoxically, he"s chosen to give it at nike headquarters in oregon. Nike isn"t the solution to the problem of stagnant wages in america. It"s true that over the past two years nike has added 2,000 good-paying professional jobs at its oregon headquarters, fulfilling the requirements of a controversial tax break it wrangled from the state legislature. That"s good for nike"s new design, research and marketing employees. But nike"s u. s. workers make only a tiny percent of nike"s products. In fact, americans made only 1 percent of the products that generated nike"s . 8 billion revenue last year. And nike is moving ever more of its production abroad. Last year, a third of nike"s remaining 13,922 american production workers were laid off.
