Sunday, August 1, 2010

Productivity and exploitation of workers

Read this article.

My view
I agree with the writer that higher productivity should lead to higher standard of living, instead of putting more people out of work. The exploitation of workers has led to a widening gap between the top incomes and the majority of lowly paid workers. This also measured by the GINI coefficient, of which Singapore has fared badly, and is worse than America.