JIT-ery

We gaze out on the world from our window and see the hold-up. No, not that kind. The kind that gets us economists all hot under the bonnet. No, and it’s not what you’re thinking. Clean your mind.

It’s this that grabbed our attention:

Audi’s Hungarian workers end one-week strike

A headline from Automotive News Europe. As you can see, we’re nothing if not eclectic here in our reading habits at the Continental Telegraph.

Audi?…

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The Bangladesh Garment Workers Are Actually Well Paid, Not Badly

There’s a strike or two taking place in Bangladesh over wages for garment workers. The workers wanting more money of course, the employers not really desiring to give it to them. Ho hum, how surprising.

The thing is though, by the standards of this time and that place those garment workers aren’t badly paid. In fact, they’re rather well paid by those standards, even as they’re badly paid by our standards or of richer places more generally.…

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Disney’s Ariel Doll Pays Chinese Worker Only 1 Pence Wages Each

The latest scandal uncovered by The Guardian is that the Ariel doll from Disney – the mermaid – ends up paying the Chinese assembly line workers that make it only 1 pence each. That’s 1 p out of the £35 cost of the doll. Undoubtedly this is a scandal! Well, it is unless we have a little look at the logic being used here.

Our first observation would probably be that there’s not much labour used in the making of the doll then.…

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A Terrible Tragedy – Brexit Means Wages Will Rise

We have predictions of the most appalling skills shortages as a result of Brexit. This means, inevitably, that Brexit will cause wage rises. And isn’t that good? We rather liking the idea of higher wages in the main.

The correct method of analysing this is to use Karl Marx for, yes, he did get the one thing right, how wages are determined.

Nine in 10 businesses say Brexit has affected their ability to recruit and train staff this year, the Confederation of British Industry has said.

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A Lack Of Migrants Is Raising Wages – This Is Good, Isn’t It?

We’ve a complaint that a lack of incoming migrants is causing wages to rise. That all sounds pretty good really, as the usual and major complaint about the British economy is that wages haven’t risen for a decade. If we reduce migration, wages rise, we thus solve that problem. Without Momentum taking over the country that is:

The shortage of skilled workers is getting worse amid a “sudden reversal” in the numbers of EU and non-EU migrants in employment in this country, according to a new report.

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Is There Nothing Brexit Can’t Do? It’s Forcing Wage Rises Now

There is, as we know, a never ending list of terror. The dastardly things that Brexit will cause. What tends to get missed is that near nothing is one sided – that silver lining and clouds thing – and also that some of the things being complained about are things we positively desire.

Take this:

Employers are struggling to fill jobs after an “abrupt fall” in the number of EU nationals working in the UK in the wake of the Brexit vote, new figures show.

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The Working Class Are Not A Problem To Be Solved

We are unlike any other nation, whilst only 25pc of our workforce are employed in manual occupations, 60pc of us believe we are yet to be liberated to the middle classes. Consider we don’t wish to be. The definition of one’s class is said to be distinguishable by occupation and assets, those who have nothing to sell other than their labour and skills. The definition is outdated, and yet the worldly perception of a quintessential British worker remains a salt-of-the-earth steal worker labouring to feed hungry children with mismatched shoes and mucky faces.…

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