http://www.his.com/~pshapiro/hoarded.wealth/ream.html
This is another interesting thing which i wanted to point out. So many High net-worth individuals (HNIs) earn nearly half a million each hour (even when they are asleep), primarily due to their growing stock market capitalizations. The stats are very interesting and really easy to locate on the internet. This boom in terms of billionaires has been driven by stock exchanges around the world, the developing nations have been having huge growths in their capital markets with globalization happening.
The really cool part is that in their quest for locating cheaper sources of goods, American MNCs have created this global phenomenon. This is nothing but exploitation (i mean even the British did a great job when they were around in the commonwealth nations) with the consent of the exploited. Let me explain this further, the developing nations really do not have the capital for building research labs, huge factories …. as most of their budget is allocated for defense ( 10-13%) , paying salaries (privatization is a recent phenomenon) and now-a-days oil subsidies….
To make money, you need an initial investment. This is done by the developed nations, who obviously do not do it out of charity. This eventually leads to creation of a subsidary company which ensures that minimum wages get paid, in my last article you can see the huge difference in wages. The blue-collared worker has no option, but to get exploited as he does not have the means to demand what he deserves. (An example to the contrary are the Leftist worker unions in Kerala and West Bengal , two states who have not done great in terms of capitalist growth but seem to have tried their hands at socialism ha ha) .
After deviating from the topic, the above analysis is to show how the blue collared “developing” nation worker is actually minting money for some guy at the top of an MNC earning $100,000 per hour ….. the link is undeniable ….
