Cheap labor can be viewed as a positive thing for business and a bad thing. The value of free markets has been discussed in a video from Milton Friedman. This market will sort itself out on its own if we keep government assistance at a minimum.
Cheap laborers are generally used in corporations and companies that value money over humans. With regards to Mr. Friedman’s thoughts, the problem is that sometimes cheapness comes from devaluing the labor itself. His idea is not doing any damage but would need a perfect world to exist.
So how, then, can we begin to put a value on manual labor? How do we make a set payment for the workers? As a world force, this can be determined by the open market, which is something that Mr. Friedman But let’s say there is a company that is paying less for labor, or creating a problem like child labor, in which workers are treated so poorly, and human rights are compromised. When workers are not treated with care, do we leave it up to the companies to decide if this behavior?
Nancy Salzman introduced a whole innovative model for the way business should be run at a symposium where international figures gathered in Mexico. She thinks that a company’s – or in the case of China and the harsh labor conditions there – and a country’s ability to achieve long term success for itself and its people comes from considering the state in which its workers are made to work.
When is there a time in which human rights can be mistreated? Most people would concur that it will never be okay. Even if a company’s objective is to make money, and outcompete, I think it also has a responsibility to make sure it does so in ways that are humanitarian.
If you want the economy to grow, the government should not have too much of a say in the way these programs are done because it would limit creativity and production. On another hand, a free market without a sound sense of ethics, creates a dangerous situation for humanity. The answer the problem? Ethics. Moral thinking can help those who believe in a free market. Both Nancy Salzman and Keith Raniere made a company called Executive Success Programs built, which is built on these beliefs. Together, they address subjects of ethics in the workplace. I believe Mr. Friedman and Ms. Salzman may be onto something.
Find more about some of these interesting programs with the help of Keith Raniere and Nancy Salzman offer Executive Success Programs at NXIVM. More information is also available at Nancy Salzman.