Thursday, September 20, 2012

September 20, 2012

The Hindu on allowing FDI in retail:
Even within the retail trade, the government’s claim that FDI is good for the nation is difficult to defend. The success of large retail cannot be based only on the expansion of the retail space, but requires acquiring a share of the existing space occupied by small retailers. NSSO data for 2009-10 indicate that the occupational category consisting largely of the wholesale and retail trade employed 44 million Indians. The displacement of a substantial number of these workers is inevitable. Since the economies of scale and scope that size delivers in organised retailing are expected to reduce costs by raising labour productivity, the expansion of large retail will not compensate for this employment loss.
Which reminds me of this comment by 'StarmanSkye' at RI:
 I guess the New Politics of neo-Conservative values which we see in the unprecedented official government protection that encourages the power & privilege of the financial criminal class suggests a kind of logical argument can be made that the trend from "Its the duty of every American industry, company, corporation, business person and citizen to maximize their profits by any *legal* means allowed, including evading, deflecting, eliminating or deferring their tax liability" leads to:
"Its the duty of every worker to inhibit productivity by any and all means *legally* allowed so as to stimulate maximal employment of the work force".
Game, set and match.