Crocodile Tears

A few years ago The Economist reported that Chinese taxi drivers had suffered from a big fall in disposable income over the last decade, as government consolidation shifted ownership from drivers to privately-run firms. “The companies profited massively by extracting ever higher monthly payments from drivers in return for granting them the right to drive.” One wonders at the tone of reproach here, this is precisely the kind of capitalism that the magazine has always advocated at home. Is rent-seeking and the increase of shareholder value at the expense of labour wicked only in China?

Posted on May 25, 2012 at 17:34 by Hugo Grinebiter · Permalink
In: THE ENSLAVING MAMMAL, From Free To Unfree Labour

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