World Bank recommends fewer regulations protecting workers

UglyCasanova

Lifer
Mar 25, 2001
19,275
1,361
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https://www.theguardian.com/money/2018/apr/20/world-bank-fewer-regulations-protecting-workers

The World Bank is proposing lower minimum wages and greater hiring and firing powers for employers as part of a wide-ranging deregulation of labour markets deemed necessary to prepare countries for the changing nature of work.

A working draft of the bank’s flagship World Development Report – which will urge policy action from governments when it comes out in the autumn – says less “burdensome” regulations are needed so that firms can hire workers at lower cost. The controversial recommendations, which are aimed mainly at developing countries, have alarmed groups representing labour, which say they have so far been frozen out of the Bank’s consultation process.



It basically all boils down to this:

High minimum wages, undue restrictions on hiring and firing, strict contract forms, all make workers more expensive vis-à-vis technology.”


Interesting times to say the least, and will become even more so.
 

ivwshane

Lifer
May 15, 2000
32,216
14,900
136
https://www.theguardian.com/money/2018/apr/20/world-bank-fewer-regulations-protecting-workers

The World Bank is proposing lower minimum wages and greater hiring and firing powers for employers as part of a wide-ranging deregulation of labour markets deemed necessary to prepare countries for the changing nature of work.

A working draft of the bank’s flagship World Development Report – which will urge policy action from governments when it comes out in the autumn – says less “burdensome” regulations are needed so that firms can hire workers at lower cost. The controversial recommendations, which are aimed mainly at developing countries, have alarmed groups representing labour, which say they have so far been frozen out of the Bank’s consultation process.



It basically all boils down to this:

High minimum wages, undue restrictions on hiring and firing, strict contract forms, all make workers more expensive vis-à-vis technology.”


Interesting times to say the least, and will become even more so.

And what's your feeling on this? Are they right or are they wrong?
 

UglyCasanova

Lifer
Mar 25, 2001
19,275
1,361
126
My feelings on this are that we live in interesting times and are having to grapple with some pretty seismic issues coming our way. Is the World Bank right or wrong on this? I think the answer is probably yes, they are both.
 

Moonbeam

Elite Member
Nov 24, 1999
72,396
6,075
126
This can easily be remedied by eliminating corporations confiscating all wealth and having everybody start over on rung one. This will advantage the presently disadvantaged because they already know how to starve and will have a tremendous connotative advantage. And the new winners won't be the haves of today who want others to starve. They can join in the fun.
 

Moonbeam

Elite Member
Nov 24, 1999
72,396
6,075
126
This can easily be remedied by eliminating corporations confiscating all wealth and having everybody start over on rung one. This will advantage the presently disadvantaged because they already know how to starve and will have a tremendous starting advantage. And the new winners won't be the haves of today who want others to starve. They can join in the fun. And who knows, maybe real empathy and understanding will find better flowering that it does with the current well off.
 

ivwshane

Lifer
May 15, 2000
32,216
14,900
136
My feelings on this are that we live in interesting times and are having to grapple with some pretty seismic issues coming our way. Is the World Bank right or wrong on this? I think the answer is probably yes, they are both.

They are both wrong and right?

You'll have to elaborate on that one. Tell us why you think they are wrong/right.
 

Amused

Elite Member
Apr 14, 2001
55,841
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What is the world makes you think this applies in any part or in whole to the US?

That's my first question. This seems to be more euro and brit oriented. Among first world nations the US has the lowest standards of employee regulations and minimum wage.

Labor laws and minimum wages vary widely among countries. And this article does nothing to clarify which countries they are speaking of.
 

ivwshane

Lifer
May 15, 2000
32,216
14,900
136
This can easily be remedied by eliminating corporations confiscating all wealth and having everybody start over on rung one. This will advantage the presently disadvantaged because they already know how to starve and will have a tremendous connotative advantage. And the new winners won't be the haves of today who want others to starve. They can join in the fun.

Mad max style then? Or is your issue that you think the current crop of winners is what the issue is and the next crop of winners will be more moral? Enlightened? Sympathetic?

For someone that claims to be well aware of the human ego, seems foolish that you would think this.
 

ivwshane

Lifer
May 15, 2000
32,216
14,900
136
What is the world makes you think this applies in any part or in whole to the US?

That's my first question. This seems to be more euro and brit oriented. Among first world nations the US has the lowest standards of employee regulations and minimum wage.

Labor laws and minimum wages vary widely among countries. And this article does nothing to clarify which countries they are speaking of.

Right in the OP's quote from the article it says the policy recommendations are geared towards developing countries.
 

Amused

Elite Member
Apr 14, 2001
55,841
13,932
146
Right in the OP's quote from the article it says the policy recommendations are geared towards developing countries.

Oh. Whoops. Missed that. Derp.

FFS they have the lowest standards of all. WTF is this crap? An attempt to recreate the gilded age for 3rd world nations? Is advancement impossible without robber barons?
 
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ivwshane

Lifer
May 15, 2000
32,216
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Oh. Whoops. Missed that. Derp.

FFS they have the lowest standards of all. WTF is this crap? An attempt to recreate the gilded age for 3rd world nations? Is advancement impossible without robber barons?

That's a good question. What does history tell us? We should have some really good data on this since there was a time in history when the cheapest labor you could get existed and existed with very little regulations and we have the opposite for examples as well.

I'll go out on limb without looking at any data and guess that a raising ride lifts all boats versus a dog eat dog world that lead to tranquility.
 
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Moonbeam

Elite Member
Nov 24, 1999
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Mad max style then? Or is your issue that you think the current crop of winners is what the issue is and the next crop of winners will be more moral? Enlightened? Sympathetic?

For someone that claims to be well aware of the human ego, seems foolish that you would think this.
Mad max style then? Or is your issue that you think the current crop of winners is what the issue is and the next crop of winners will be more moral? Enlightened? Sympathetic?

For someone that claims to be well aware of the human ego, seems foolish that you would think this.
My guess is that if I know anything about the human ego I would have little in the way of fantastical notions of optimism replacing one ego with another. On the other hand, if I know anything about the ego, I might also know the requirements that predate the acquisition of such a knowledgeable state, and, such that, if those requirements involved say, some form of experience, at least passing or fleeting, of an egoless state, then such knowledge might also confer to me personally a somewhat more optimistic viewpoint than the one you currently express.
 

skull

Platinum Member
Jun 5, 2000
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My guess is that if I know anything about the human ego I would have little in the way of fantastical notions of optimism replacing one ego with another. On the other hand, if I know anything about the ego, I might also know the requirements that predate the acquisition of such a knowledgeable state, and, such that, if those requirements involved say, some form of experience, at least passing or fleeting, of an egoless state, then such knowledge might also confer to me personally a somewhat more optimistic viewpoint than the one you currently express.

Then they have spoiled kids.
 

whm1974

Diamond Member
Jul 24, 2016
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The World Bank has been forcing the Third World into being fucked in the ass for decades. It is the worst Global institution there is and should be disbanded.
I agree. Although there are other Global institutions that should be disbanded as well.
 

UNCjigga

Lifer
Dec 12, 2000
24,810
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The World Bank has been forcing the Third World into being fucked in the ass for decades. It is the worst Global institution there is and should be disbanded.
I met a bunch of folks working at the World Bank when I lived in DC--most were good people but there was a sense of entitlement and elitism that sometimes even I found nauseating (beyond the standard DC attitude.) Worst were the Swiss globalist bankers all bragging about not having to pay US income tax on their salaries.
 

whm1974

Diamond Member
Jul 24, 2016
9,460
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I met a bunch of folks working at the World Bank when I lived in DC--most were good people but there was a sense of entitlement and elitism that sometimes even I found nauseating (beyond the standard DC attitude.) Worst were the Swiss globalist bankers all bragging about not having to pay US income tax on their salaries.
Probably typical of folks born into money or are around large amounts of it.
 

glenn1

Lifer
Sep 6, 2000
25,383
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And what's your feeling on this? Are they right or are they wrong?

Wrong. The countries should default, creditors should never lend to them again, and the countries should live to their means and stop the debt being used by the kleptocrats in both government and lender side.