Some questions to consider as you watch this video, and to discuss in the comment thread if you would like:
1) Do you agree with the joint statement (0:39 in the video)? How would you modify it if you don't?
2) Related to the argument at 2:15 in the video: If there is a large influx of unskilled workers, can we expect the wages of any group of workers to be helped out?
The unemplyment rate, which is a narrowly defined measure, inched downwards this month from 8.3% to 8.1%. While at first glance this may seem to be a good thing, this WSJ article points out why it may not. Do you think that this unemployment problem is worse for any certain group (income class, race, gender)?
Potential essay question: What do you think a surplus of workers will do to the wage paid to newly employed people? If you think future wages will adjust downward, how far down can they go? Will this surplus of workers ever cease to exist?
Here is a great article on how many Apple products have been made. For this article you will only be accountable for reading the first page, if you would like to keep reading please feel free to. Perhaps the line that stood out to me the most was that "Made in America" is no longer a viable option. If Apple were to move their operations back, what do you expect would happen to the price of iPhones, iPads, etc...? Assuming that the price of labor is more expensive in America, which it is, what would be the effect of such a move on the demand for Apple products or the supply of Apple products? Using a supply and demand graph, could you show this?
Here are a few additional questions I would like you to consider.
- From an economic standpoint, does it make sense to use cheapest possible labor?
- From an ethical standpoint, do you feel that Apple is obligated to produce in any one country?
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