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View Diary: Apple and Unbridled Capitalism (248 comments)

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  •  Is it reasonable (9+ / 0-)

    to assume even the doubling of labor costs while leaving manufacturing in China can completely disrupt a companies balance sheet? Aren't we already subsidizing current prices through slave labor?

    Or is it more realistic to say unreasonable profits at the expense of labor will no longer be tolerated? That Apple, Dell, HP and even Nike who's profit margin is in the 1000's% is ridiculous and provides no benefit to the majority of people.

    •  Undefined (3+ / 0-)
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      markw, Food Gas Lodging, sagesource

      I don't have have the slightest idea of how Apple arrives at its prices. Which is why I asked for someone (not you, apparently) to provide some hard numbers.

      More to the point, I don't want to work in one of these factories, but "slave labor" does not seem to me a precise use of terms. As for "reasonable" and "ridiculous" in regard to prices and profit margins, I gave up on the "just price" shortly after Aquinas. I didn't see a good way, or a competent authority, to set those boundaries by fiat. On the whole, markets eventually make these decisions. One instance of the working of the market in labor is when Chinese workers mount a protest over wages and working conditions. It would seem that such protest is, in fact, having an effect. Eventually, I imagine the Chinese will work out something they can all live with.

      If that's too slow for you, then you have the option of not buying from companies you dislike. They just have to make products that people want to buy, not to meet some abstract test of "benefit to the majority of people." Me, I'm looking forward to the iPad3. One of the things my purchase of that tablet will do is to help provide employment for people in China who, until recently, lived in much more difficult circumstances, under the domination of others who were absolutely certain of what qualified as beneficial to the majority and of how things ought to be priced, not to mention their use of genuine slave labor.

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