Is America Falling Off the Flat Earth? (2007) / Chapter Skim
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THE COMPETITIVENESS EQUATION -- THE COST OF LABOR
THE COMPETITIVENESS EQUATION -- THE COST OF LABOR
Pages 28-29
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From page 28... ...
If the company is concerned with hiring factory workers, it will undoubtedly be noted that nine such workers can be hired in Mexico for the cost of one in the United States. I recently visited a plant in Vietnam where 20 assembly workers could be hired for the cost of 1 in the United States.
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From page 29... ...
There is also, as critics point out, the possibility of major political upheavals in developing countries that could have significant effects on the competitiveness of those nations -- but it seems unwise to predicate America's future on such destabilizing events. It thus appears highly likely that the United States will suffer a substantial wage disadvantage for many years to come and that some means will have to be found to offset that fundamental tilt of the flat earth away from America.
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