Billzebub Wrote:
nacho Wrote:
The actions of "unethical businessmen" do reflect back on our country as a whole. When there are American corporations running sweatshops and making loads of money by exploiting impoverished people around the world, people generally are going to hold "us" (meaning our country or americans as a whole) accountable.
Yup, because it's US corporations that are so ill-behaved. Sorry to burst your bubble, but you're dead wrong.
There are very few public companies, which are the vast majority of US firms with sizeable presence overseas, that are "running sweatshops". Usually, when a US corporation opens up an overseas installation, it's one of the best places to work in the locale.
Yay America!!
Look, I'd like to think that
most American-owned corporations (public or private- it really doesn't matter) operating in foreign countries are doing the right thing. What is clear is that at least
some of them aren't. That pisses me off. I guess you're ok with it, and that's your perogative.
Quote:
US law governs US corporations' overseas activities, and the free market (i.e. public ownership) serves as an additional check/balance.
US law (Federal? State?) does not govern the activities of American-owned corporations operating in other countries. Any corporation that is going to move operations abroad is going to set up a sister corp or subsidiary and incorporate in whatever country they chose, and thereby be subject to the laws of that country and not ours. Taking advantage of weaker legal systems and little or no regulation is half the fun of operating abroad.
And how does public ownership serve as a check/balance?? All any shareholder cares about is a return on his investment. If the company he owns stock in is maximizing his return by running a sweatshop in SE Asia, is he really gonna care?? Doubtful...