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View Diary: Stockman: Romney and Bain Were About Stripping Cash Out Of Companies For Themselves, Not About Jobs (179 comments)

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  •  other points (0+ / 0-)

    Where are alot of the jobs "created"?

    In countries like China with no worker protections, no safety regulations and no pollution controls.

    Look at where Apple builds its products to make staggering profits

    Look at the global clothing industry

    If companies wanted to 'create jobs' they would create them where the company is based

    but their motive is profit so they race to the bottom, even with programmers, engineers, etc.

    That is what business does. that is how capitalism works

    •  definition of "net" (as in 'net job gains'), etc. (0+ / 0-)

      net adj. 1. Business: a. Remaining after all deductions have been made, as for expenses: net profit. From Old Italian netto, remaining after deductions, from Latin nitidus, clean, elegant; see neat.]

      net, nett [adj] 1. (Economics, Accounting & Finance / Accounting & Book-keeping) remaining after all deductions, as for taxes, expenses, losses, etc. net profit Compare gross. 2. (Mathematics & Measurements / Units) (of weight) after deducting tare* 3. ultimate; final; conclusive (esp in the phrase net result)

      3. Net - the excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses)net - the excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses) net income, net profit,

      Adj. 1. net - remaining after all deductions; "net profit" nett 2. net - conclusive in a process or progression; "the final answer"; "a last resort"; "the net result"

      Net job gains: job gains minus job losses
      .

      ----
      *tare (târ) n. 1. The weight of a container or wrapper that is deducted from the gross weight to obtain net weight.

      ----

      See also Joseph Schumpeter, Capitalism, Socialism and Democracy, on "creative destruction". As the economy grows, some older industries will close as new ones emerge, based on new technologies and entrepreneurial innovations (PDP-11, Apple, VisiCalc, WordStar, DOS, Lotus 123, WordPerfect, Windows, WWW, Internet, Mozilla, Firefox, etc. :-) ). It's important to have unemployment insurance, job retraining, affordable re-education, social welfare, etc. for those people caught in these dislocations. But only Luddites want to stop new businesses.
      ----

      'Races to the bottom' do occur, but mainly when assets can easily be moved from one country to another. There can also be races to the top, and mixed outcomes. It is not that simple.

      I'm glad to see Chinese workers earning enough not only to live but to fulfill their human potential (rather than facing famines as in centuries of Chinese history). How about you? As economies move above $3,000 GNP/capita, they also tend to improve their environmental record -- this would especially be important in China (with its awful pollution, coal consumption, greenhouse gas emissions, etc.).

      •  and again you make my point (0+ / 0-)

        businesses are not in business to create jobs or give people good wages.

        They are in business to make money

        They may hire people and there may be net job growth but that only happens when there is demand.

        The race to the bottom is in full force and it is destroying the economy.  The recession in the US is caused by weak demand at the same time "job creators" are cutting jobs and benefits and salary, and outsourcing to much lower paying locations.

        The race to the bottom is an unmitigated disaster  

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