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View Diary: Apple and Unbridled Capitalism (248 comments)

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  •  ooops, Billion with a B. (0+ / 0-)

    read that three times and still missed it.

    •  not even reasonable (0+ / 0-)

      What would it do to prices in the economy? That kind of money being dumped all of a sudden would create a hyper inflation that would destroy it.

      •  Well, just saying if they paid (0+ / 0-)

        American workers $10 an hour compared to paying Chinese workers 70¢ an hour that's what it would cost them. Not your $5 Billion figure. Well over $14 Billion. Which is their profit.
        Still, if they could live with a "reasonable profit" of "just" $2 Billion, then that's what they would have to raise prices on their product to achieve that $2 billion profit and still pay American workers $10 an hour.
        Which is to say they may have to raise prices on their products 10% or so. Maybe less, maybe more, but I suspect less. And, that, to me, is reasonable. That is, raise their prices 10% and keep jobs here at $10 an hour.
        It's the old argument I make with Wingers on my local yokel webboard. "If McDonald's raised prices on their Big Macs and Happy Meals they could give their workers another buck an hour." Wingers get all kinds of riled by that, explaining that, "then those same workers couldn't afford to buy a Big Mac."
        Well, that might be true. But they don't need to buy a Big Mac. Or an iPod. But, that extra buck an hour goes in the gas tank and buys tires for their cars.

        •  Apple could (0+ / 0-)

          do it with far less employees by automation and bring jobs back here, true. And they dont need to have those obscene profits as well.
          But the problem is far more structural than just Apple. Its how America exports jobs, how long before a labor uprising in China and multinationals look for the next population to exploit? Say in Africa? Because there is always the next starving nation who will work for less.

          I couldnt even begin to comprehend should companies start to extract jobs from China and the effect it would have.  

      •  14 Billion is Chump Change. (0+ / 0-)

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