Tag Archives: wages

Hillary: The “Good News” is That China is “Forcing Down Wages”

By William K. Black
October 23, 2016     Kansas City, MO

The general media has been treating the WikiLeaks disclosures of the Clinton campaign documents, particularly the transcripts of her lucrative talks with Goldman Sachs as much ado about nothing.  I have not found any article about the disclosures, however, that reported on the extraordinary statements she made in her talk with Goldman Sachs on June 4, 2013.

Hillary told the Vampire Squid that the “good news” was that China was removing workers’ (meager) legal protections so that their employers could “forc[e] down wages” in order to increase corporate profits.  She used China’s (pathetically weak) legal protections for workers as her exemplar of China’s “structural economic problems.”

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The Lethal Lemons on the Road to Bangladesh

By William K. Black

I wrote yesterday about the “control frauds” (in which the person controlling a seemingly legitimate entity uses it as a “weapon” to defraud) that target purchasers of bad quality goods (“lemons”) and employees.  The example I used to explain these concepts was the collapse of the building housing garment factories in Bangladesh.  Continue reading