Monday, August 6, 2012

Davidson on Mitt Romney's Sweatshop Capitalism

By Paul Davidson

Right now, a man whose predatory career has claimed the jobs of countless Americans is trying to wrap himself in the flag and call himself a “job creator” and “wealth creator.”

Does he mean miserable jobs in Chinese factories? Wealth for the 1 percent? Apparently that’s exactly what he means.

Republicans claim that Mitt Romney's entrepreneurial activities at Bain Capital have been good for Americans. The truth is that Romney has spent his career offshoring and outsourcing American production processes -- and associated jobs -- to countries like China where human labor is valued in the market at a very low wage rate.

Mitt Romney’s tenure as Bain’s CEO has long linked him to offshoring and outsourcing. Even today, although he is no longer in that position, Romney still makes a nice profit on undertakings done long after he left the day-to-day management of the firm.

Read the rest here.

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