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Cheap Wages for the Workers - Essay Example

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This paper "Cheap Wages for the Workers" discusses the venturing of the companies in the underdeveloped countries that have had its advantages. It has helped to reduce the level of unemployment and improve on industrialization. The citizens can provide for their families and to lead better lives…
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Cheap Wages for the Workers
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Download file to see previous pages In some countries, the children are forced to leave school and join the job market to help in providing for the family. The children get paid very low wages because they are not part of the working class and, therefore, cannot do anything about it. These companies tend to flourish because they can increase their profit margins through low wages. Most businesses that venture in the LDCs do not follow the business ethics that protect the workers from low wages and harsh working conditions. Business ethics refers to values and norms that help to govern the businesses and ensure the smooth running of the organization. The ethics also regulate how employees relate with each other in the business environment. This paper is going to analyze where the low wages are ethical, or the companies are doing the workers a favor.

American companies venturing into underdeveloped countries is a good thing because they help in speeding up the rate of economic development. As said by Aylward (1998) “In the developing Asian countries, the trend in private venture investment also remained firmly upwards, though the volume of new funds declined in 1995 due to a bumper year in 1994” (p. 5). This affirms the fact that the American industries have helped to boost the economy of these countries. Although, this is a good thing they tend to take advantage of the workers. Some tend to take advantage of the workers. Some of the work done for free in the foreign territories is compensated in America. Others tend to employ child labor to minimize the production cost that is not ethical. The children tend to receive very low wages due to the undersized governance and the low government regulation. Although the companies are helping by providing employment, they should be able to pay the employees and workers the required amount of wages.
This violates the work ethics where the employers are expected to pay the workers according to the work they do. Workers in underdeveloped countries, work for long hours and receive low wages.  ...Download file to see next pagesRead More
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