Opinion – Europe’s Thirst for Cheap Labor Fuels a Boom in Disposable Workers

Here’s a good article from Liz Alderman in the NYT, highlighting the uglier side of EU labour regulations, targeting greedy multi-nationals and shabby employment agencies.

Source: Europe’s Thirst for Cheap Labor Fuels a Boom in Disposable Workers

I’ve never been a Brexit supporter but this article reminds us of the ineffectiveness of the EU bureaucracy, which is too slow and cumbersome, significantly adding to unit costs but often failing to effectively protect consumers and workers.

Multinationals have been outsourcing and offshoring for years, and if you believe in liberal economics, like myself, that’s fair enough. But multi-nationals must be transparent in their supply chain, highlighting unscrupulous labor practices. As for employment agencies, they have long added to costs and provided questionable value to clients and employees. It’s surely time that the EU bureaucracy took the knife to employment agencies.

It’s strange that Jeremy Corbyn’s Labour Party is giving so much credibility to EU labor policies? Perhaps they fear that after Brexit, UK employers will try to match the uglier side of global labor practices?

Thoughts?

Opinion – First Stage Reality and Brexiters – Mainly Macro – Simon Wren-Lewis

David Davis MP (Conservative). (Photo: Robert ...

David Davis MP (Conservative). (Photo: Robert Sharp / English PEN) (Photo credit: Wikipedia)

Here’s a rather good blog from Oxford macro-economist, Simon Wren-Lewis.

Source: First Stage Reality and Brexiters – Mainly Macro – Simon Wren-Lewis

Wren-Lewis speculates that we’re headed for a very soft Brexit. For me, it’s too early to call. But I do agree with Wren-Lewis, don’t trust the political classes to explain the truth.

Look to hard-evidence and professional risk analysis not political chancers. The bottom line is that whether it’s a hard-Brexit or very soft Brexit, the economic costs will be enormous for generations and the gains will be nebulous in the extreme. The damage is done. Now we must look to the major political parties and how they sell the pup to the UK public. I fear Labour will have more credibility and apart from weaker property prices, highly leveraged UK consumers will need to bargain on eye-watering tax increases.

After all, did you see David Davis‘ eyes on the Andrew Marr show?

Thoughts?