financial crisis

ISC Research Paper: Global Movement for Higher Minimum Wage and the Real Situation of Korean Companies Operating Abroad

Recently, demonstrations have been breaking out around the world demanding an increase in the minimum wage. This is the result of wages that have remained too low since the financial crisis exacerbated by the continuous inflation along with exchange rate increases which have made it impossible to guarantee a minimum standard of living. According to the “Global Wage Report 2012-13” by the International Labor Organization (ILO), the global average real wage (excluding China) has not increased since the 2008 financial crisis. Minimum wage became a big issue not only in Asia, known as the world’s factory due to its cheap labor but also in the US and the UK. In the US, the movement is spreading propelled by fast food workers.


Deficit Hawks Miss the Point

Those who want to target the housing market or take a scalpel to military spending and subsidies can take heart from a real argument about how the budget deficit affects jobs.


China shows who the real boss is at USA Inc.

The nice thing about owning your own business is that you get to call the shots. Want to take the day off? Take the day off. Want to reupholster the office in pink, candy-striped vinyl? Go right ahead and have at it.Along the same lines, I give you China --an ever increasing stake holder and now permanent board member at USA Inc.Over the past few years the Chinese have plowed over $2 trillion

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