ackillesBAC t1_j73bsze wrote
Reply to comment by flugenblar in ‘iPhones are made in hell’: 3 months inside China’s iPhone city - Workers describe a peak production season marred by labor protests and Covid-19 chaos, right as Apple reconsiders its China supply chain. by speckz
The counter to that, would be the free market has to compensate by increasing wages elsewhere in order to draw people to them. Win-win for people, loss loss for Corporations. And the government is run by corporations so we know something like this will not happen
Bakemono30 t1_j73xv78 wrote
But if it's a loss-loss for corporations, where will the corporations go? Elsewhere. No one is going to agree to a loss-loss and especially not a corporate entity. Only place loss-loss exists is govt where they can eat the cost to help their constituents. You're leaning too much toward socialism which then has a lot of other issues wrapped in. Ultimately the good is only the extent of the good of the people at the top. And we all know you don't have goodwill measures to make it to the top.
ackillesBAC t1_j73yuv4 wrote
I get it leans toward socialist policy, but it's far from socialism. The free market and capitalism will never sacrifice for the betterment of the individual unless its a board member.
Bakemono30 t1_j73zen9 wrote
Well obviously, because it's a free market to do so. The idea is to always extend the strength of power at the top instead of appeasing the labor at the bottom. The lower you are the more replaceable you become. Thus the less valuable you are to a company. What you're suggesting can never happen as it's pretty much corporate suicide.
ackillesBAC t1_j748577 wrote
It's stock market suicide maybe, the corporation can still exist with a stock price of zero. They would just have a hard time keeping a CEO or issuing new stocks to raise cash.
Microsoft last year doubled their salary budget, and increased their employees stock options by 25%. In an effort to retain their employees. Microsoft stock didnt seam to move when they announced this in May of 2022.
Edit: Amazon actually did the same thing last year, except for they increase theirs by a little bit more than double
Bakemono30 t1_j749z2y wrote
Yeah you lost all credibility with me on that statement. Best you learn more on stocks, valuation and the economy before making claims on how you think the economy should be. Pretty juvenile statement. There's no way a company can exist with 0 stock price.
ackillesBAC t1_j74i5ql wrote
It's quite complicated but a company generally only goes to 0 when they declare bankruptcy. Chapter 7 bankruptcy means they will no longer exist (sold off to pay debtor's), however can can declare chapter 11 where they work with debtors to pay down the debt, they still need exist as a company. Stocks fall that low because the company is dead, the company does not die because the stock is that low.
I also should not have said a stock price of zero, but should have said virtually zero, such as movie pass now at 0.0001$.
Bakemono30 t1_j74p5oy wrote
Bruh you're talking about failed companies, how they going to help prop your idea? Better to have left that out than to weaken your stance.
ackillesBAC t1_j74psnv wrote
Sorry to confuse you.
flugenblar t1_j7bld3p wrote
So are you arguing that Microsoft should move to small town in order to raise the median wages there? What about the town they left?
ackillesBAC t1_j7bmqav wrote
No I was replying to the comment that doubling wages would be corporate suicide, yet Microsoft and Amazon literally did just that and seamed to not suffer at all from it.
flugenblar t1_j7bl1si wrote
I think you are making your own best argument against your position.
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